The Adverse Impact of Low Oil Prices on the U.S. Economy
Low oil prices are unquestionably bad news for producers. But how do they affect the economy of the United States, which has played a leading role in pushing prices down?
The United States occupies a unique position between losses and gains. Being a major world producer, its oil sector stands to lose billions of dollars because of the slump in prices. Yet, at the same time, the United States has the largest economy in the world, so its corporations and consumers certainly save billions when oil prices go down.
Anwar Altaqi – Esam Aziz