Gift 1:A true economic stimulus. The drop in oil prices from over $100 a barrel to less than $60 a barrel constitutes the economic benefit that keeps on giving......And yet the undertone of even some dimwits on Faux News think the sky is falling because of cheap energy.
The truth is THEIR (oil investment) sky is falling. If you want to find out where the greed is just listen to their comments on oil prices.
Supply and demand.
Supply and demand.
Supply and demand.
Supply and demand.
Simple!
More gas and oil (global market) = cheaper oil and gas!
There is two sides to the sword.
The February/March 90 day bonds that have oil peak price in them will be devastated if oil prices remain at this level.
This could cause a domino effect thru the markets and even into the Texas job markets. I have heard up to 160,000 jobs lost by second quarter of 2015.
Drilling, fracking and producing a well is expensive. At $60 and below, companies are cutting their budgets for next year. Meaning, less expansion. This means less equipment rental, less gravel being sold and quarried, less sand needed for fracking, so on and so on.
Trust me I am enjoying the low pump prices, but they do have a negative affect as well.