With the recent drop in oil prices that have benefitted the consumer, but hurt oil companies, does it seem like this will harm or improve the economy in the long run?
Hard to understand how it can cause great harm to the economy. While the oil companies won't have the $$ the would have had, it simply means that someone else will. That money isn't going to simply sit in the consumers pocket; it will just be spent elsewhere - some other vendor will have it instead of the oil companies.
by Gary Anderson5 years ago
Worried about the price of gas? Our oil companies aren't. They export oil in the SF Bay and in April will start exporting West Texas Intermediate (WTI) from the Gulf of Mexico. http://www.businessinsider.com/the-asto...
by Mike Russo4 years ago
Obama was blamed by the conservatives and the Romney camp for the price of gasoline increasing. Now that it is coming down, does he get credit for it?...something to think about! Your thoughts please.
by CMHypno6 years ago
Obama's attacks on BP are increasingly being viewed in the UK as signs of his anti-British stance. Or is he just trying to pull attention away from his own administration's...
by Don W6 years ago
Would a free market have prevented this from happening?I'm guessing the libertarian argument would be that the failings of state regulation was a contributing factor. Those failings stemming from the fact that the...
by kerryg6 years ago
Contrary to what has been suggested in several posts here over the last few weeks, Obama's supposed imposition of "regulation after regulation, roadblock after roadblock" is not what's holding up domestic oil...
by Harvey Stelman6 years ago
I voted Democratic because I believe oil companies' profits of 4% on a gallon of gas are obscene but the government taxing the same gallon of gas at 15% isn't.
Copyright © 2017 HubPages Inc. and respective owners.
Other product and company names shown may be trademarks of their respective owners.
HubPages® is a registered Service Mark of HubPages, Inc.
HubPages and Hubbers (authors) may earn revenue on this page based on affiliate relationships and advertisements with partners including Amazon, Google, and others.