Who Is affected by Declining Gas Prices?
Declining gas prices may not be so good for everyone after all. In general terms, consumers and industries that are heavily dependent on gas will benefit both in the short term and in the long-run. But because the United States is an oil-producing nation with states with heavy interests in oil and gas mining, the continued decline in gas prices may have negative impacts on the labor market and economies of such states.
Mining is an industry that has experienced labor growth despite the slowdown in the US economy. So if someone asks if reduced gasoline prices is beneficial, the answer would be depending on who you ask and where you ask.
One industry that will be affected if the prices continue to go down is the shale industry. According to Jared Gilmour, a writer at CS Monitor, the lowering oil prices are “threatening to make the costly US shale extraction uneconomical.”
Read More At: http://dish.andrewsullivan.com/2014/10/30/is-3-a-gallon-gas-good-news/
Terry Smeader
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