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To: Lorianne

I don’t see it as wealth destruction, but wealth shifting, from the owners of oil to the consumers of oil.


8 posted on 02/07/2016 8:21:31 AM PST by Lonesome in Massachussets (Prendre cinq et rendre quatre ce n'est pas donner.)
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To: Lonesome in Massachussets
I don’t see it as wealth destruction, but wealth shifting, from the owners of oil to the consumers of oil.

Exactly. It's a zero-sum gain. Where gas/oil companies lost billions in assets, consumers will now have billions more in disposable income. It's going to hit the oil business hard, but spur activity in other sectors, like auto sales, clothing, restaurants, and housing. The price of just about all goods should decline since the costs of their manufacture and transportation have declined with a decrease in energy costs.

So it all washes in the end.

10 posted on 02/07/2016 8:48:11 AM PST by IronJack
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