Hey Smart People. I need help figuring something out. As of late 2012, the USA is the worlds largest oil producer. Read that again, its tough to believe , but true. Falling gas prices will give American families $115 billion more in disposable income 2015.This becomes apparent every time you fill the tank. a newspaper article says investors are worried because it may point to a lower demand for oil and lower economic activity and policymakers have not dealt with the threat of deflation, or falling prices. Oil companies have announced investment cuts. There is weakening demand for oil and petroleum products in Europe in developing nations, and especially China is more increasingly they should pay bills come into the market as China seeks to reduce its oil dependency. I understand that this is freaking out oil companies and the people who make their money from investments in oil companies and the investments that oil companies make. What Im trying to figure out is what is the bad part about this? Yes, the oil companies are going to make less money. But does our country exist to support oil companies, or is it better to have $115 billion back into the hands of the people? USA is now the biggest oil producer. Isnt that what the baby drill crowd has wanted... Energy independence.. Just saying no to foreign oil? On the side of those who are not fans of oil, part of this deflation is due to countries smarter than us realizing that oil is poison. So...where is the bad in any of this? Of course it cant make Republicans happy, because it makes Obama look good, and also makes Keystone look less attractive. But aside from the craven political agenda, is there any reason not to like whats going on?
Posted on: Tue, 06 Jan 2015 15:06:40 +0000
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