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OT: I researched the savings to American pockets. Going from $4/gallon -> $2/gallon saves American $500 Billion annually. I included the savings from the cost o
by salimmadjd 11y ago
OT: I researched the savings to American pockets. Going from $4/gallon -> $2/gallon saves American $500 Billion annually. I included the savings from the cost of food as well (food cost had a direct correlation to oil prices).
How much of that is going to be pumped back into the economy is unknown, but the amount is sizable.
You would also expect, some amount of savings globally on food and fuel. So net, this might give the global economy a bit of a boost.
OT OT: It also surprised me why Obama administration never, framed the Iran Nuclear Deal as a $2/gallon or $1/gallon victory for American people. It would have been more sticky.
- jayess 11y agoWith the happy side effect that $billions are not going to Saudi Arabia, the ISIS that succeeded.
- TheCowboy 11y agoThings have changed. A lot of states' new and old oil industry experiences a contraction at prices that low. Alaskan residents used to get cut a check, but that might be going away due to budget shortfalls. Then you have plenty of lost jobs in the shale states. It also should not be the responsibility of politicians to promise cheap gasoline. It might be a quick political victory when it's easy to promise, but it leads to bad policies when it gets complicated.
- revelation 11y agoThe issue of course is that a sizable portion of these "savings" are just simply poured into driving more.