Positives From Lower Oil Prices Will Outweigh Negatives: Capital EconMani
There has been a lengthy debate over whether lower oil prices are good or bad for the USA. While many thought $150 a barrel was too high, many "experts" now think that $30ish is far too low and the savings passed to consumers have been offset by hurting producers. Capital Econ disagrees and thinks that lower oil is a net positive!
As oil producers have typically been large net savers, a transfer of income from them to consumers will enable consumers to spend money on other goods and services . . .
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