Decline in oil prices: Good for consumers, bad for oil companies?

  1. slehman1021 profile image84
    slehman1021posted 2 years ago

    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?

    1. wilderness profile image99
      wildernessposted 2 years agoin reply to this

      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.