Politics
Will falling oil prices stimulate the US economy?
In recent days oil prices have dropped significantly, raising discussion over how America's energy demands will affect the recovery of the US economy. Read more...
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No, consumer spending won't increase
But with little credit available today for new energy start-ups, and lower oil prices making it harder for existing renewables like wind and solar to scale, and a weak economy making it nearly impossible for Congress to pass a carbon tax, what will become of our budding clean-tech revolution? Read the Article
Quoted by vle on Oct. 22nd, 2008
More than 70% of the U.S. economy is consumer spending, and the real risk going forward is that they won't spend... Read the Article
Quoted by brownlu on Oct. 17th, 2008
It took a pretty long period of high oil prices to convince people not to buy SUVs. It'll take a while, too, for them to be convinced by low prices to start to buy them again. Read the Article
Quoted by brownlu on Oct. 17th, 2008
Yes, this will lower business costs
General Comments
The rapid decline in prices had alarmed both petroleum company executives and oil producers, who are becoming increasingly nervous that oil's roller-coaster ride undermines the stability of energy markets. Read the Article
Quoted by brownlu on Oct. 17th, 2008
Yet falling prices, in the long run, may not be all good news. The credit crunch and gyrating oil prices have sent a chill through many segments of the oil industry... Read the Article
Quoted by brownlu on Oct. 17th, 2008
The sharp drop in U.S. oil demand...shows how deep the economic malaise is...As the U.S. unemployment rate rises and retail sales and manufacturing orders slump, the world's largest consumer of oil needs less crude to move goods, fly passenger jets, and transport workers to the office. Read the Article
Quoted by brownlu on Oct. 17th, 2008
Falling oil prices offer a rare flash of good news for the U.S. economy...Ben Bernanke cited falling energy costs as one force driving down inflation. Consumer prices held firm last month, making it easier for the Fed to cut interest rates again, if it chooses, in a bid to rev up the economy. Read the Article
Quoted by brownlu on Oct. 17th, 2008
The credit issues have had a severe impact on economic activity and especially on the oil industry. If this was all just about pump prices, the cratering would have been much more severe in July than in October. But it's been the other way around. Read the Article
Quoted by brownlu on Oct. 17th, 2008
What is happening now is that the economic slowdown is trumping the downturn in prices. Read the Article
Quoted by brownlu on Oct. 17th, 2008
OPEC will try to get prices to stabilize around $70, but $70 oil is still not cheap with global economies slowing and demand running this low. Read the Article
Quoted by brownlu on Oct. 17th, 2008
