On: ‘I’m Just Living a Nightmare’: Oil Industry Braces for Devastation

[pravda]

Every dollar not transferred to the oil industry is a dollar that can be spent on other things.

To put it another way, the number of people who benefit when oil prices go down far exceed the number of people who lose when oil prices go down.

[exclusiv → pravda]

And nobody really positions it this way, but the big beneficiaries are really terrible foreign regimes. So from a national security standpoint and an environmental standpoint, the movement away is a huge win.

[pyuser583 → exclusiv]

Not now. The US produces lots of oil, but they do it through fracking - which is more expensive.

When prices fall, US producers get hit first, and harder.

[Fjolsvith → pyuser583]

The ratio of benefit still stands despite the crush domestic oil producers are suffering.