Quote:
Originally Posted by Sandtrap328
I just heard one of the "analysts" on the vulpine network say that gasoline is at a low point in several years and that is not a good thing. He stated that lower gas prices will interfere with more exploration, drilling, fracking, oil shale and sand discoveries, jobs will be lost with a chain effect, and that the saving of $1500 per family in gas prices will in turn make for a major downturn in the economy. Amazing how some people see things!
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Yes, people do often cherry pick the phrases and assertions they use to post here and point the finger at the partisan opposition for being oh, so dumb.
This is an objective report on both pros and cons, for people interested in being able to afford fuel beyond next week or next month.
"Depressed crude oil prices, down 25 percent since June are contributing to a growing discussion on what they could mean for domestic oil production moving forward, particularly for shale-related plays like those found in North Dakota and Texas where production levels continue to climb. At least in the short-term, lower oil prices haven't resulted in a slowdown of drilling activity in either geography, but the long-term outlook is more questionable.
The cause for downward trending crude oil prices - surging production levels in the U.S. largely attributable to advances in horizontal drilling technology in combination with a weaker global economy. While lower oil prices are good news for U.S. consumers, currently benefiting from the lowest prices at the pump since 2011, they're potential cause for concern to drillers, especially if oil prices slide further….."
Navigating declining crude oil prices : Energy News