Just What We Needed: Another Challenge
by Eric Nager on Mar 12, 2020
On top of having to deal with Covid-19, we are now confronted with an oil-price war between Russia and Saudi Arabia. Normally, a sharp drop in oil prices is celebrated as a great thing. However, these are not normal times and since the US is the world’s largest energy producer, there are concerns about the health of the oil shale industry. There are many jobs in this sector which is a major concern. This helps to explain the highly volatile market today. Nevertheless, a drop in oil and gasoline prices will be a big benefit to lower end consumers which is good for the economy.