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Low oil prices are good for the consumers, but deadly for the sector

Slump of oil prices maybe good

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President Donald Trump may want cheaper oil, but thanks to the boom in U.S. energy production, crude prices now play a more nuanced role in the economy. In mid-2014, when prices fell and stayed low for the next two years, investment cooled and jobs suffered. On the flip side, consumers gained purchasing power as lower prices at the pump left more money to spend elsewhere. “It’s one of those things where 90 percent of the economy benefits small and 10 percent gets hurt big,” said Stephen Stanley, chief economist at Amherst Pierpont Securities.

Source: Bloomberg Pro Terminal

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