Positives From Lower Oil Prices Will Outweigh Negatives: Capital Econ

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, boosting global demand, reports Capital Economics. Julian Jessop and team stated in their Jan. 27…