This is the beginning of a downturn in the economy. The gas and oil industry is the only major manufacturing portion of the economy, and those supporting it, sustaining the current economy. They’re down sizing now along with all those affiliated with it. Enjoy it while it lasts.
“Enjoy it while it lasts”
Why not? There isn’t a lot we can do when things go south.
Too bad hamburger meat isn’t following suit. :)
” The gas and oil industry is the only major manufacturing portion of the economy, and those supporting it, sustaining the current economy. “
Energy is over 20% of our economy now. However, they are not “downsizing”. This is a battle between OPEC and fracking oil. Fracking is believed to need $75 a barrel, so OPEC dropped prices to try to force fracking companies out of the market. Expect a massive spike in prices once OPEC thinks they have done that.