Are Lower Gas Prices Bad for Your Economic Health?
A headline in USSR . . . er, I mean, USA Today says “yes” by declaring that declining oil prices may “Threaten the Recovery.” If this were true, then the 1970s would have been the most rubust period of economic growth in all of American history. So come on, OPEC, get your act together! Give us another oil crisis! Please!
In reality, the only thing that is “threatened” by declining oil and gas prices are the profits of the oil companies and the pay, perks and bonuses of oil industry executives. You know, the kind of people who spend BIG BUCKS advertising in places like USA Today.