30 Nov '14, 12pm

#peakoil Oil Prices Are Plunging. Here’s Who Wins and Who Loses.: While Americans were stuffing their faces wi...

rockman on Sun, 30th Nov 2014 10:15 am “Winner: Global consumers. Anybody who drives a car or flies on airplanes is a winner, as lower oil prices are already translating into lower prices for gasoline and jet fuel.” I guess it’s a matter of perspective. Yes: consumers will pay less for oil derived resources. But that’s because the impact of damage inflicted by higher oil prices in recent years has finally caught up IMHO. To me it’s similar to a cancer patient happy about all the medical aid (especially the narcotics) they are getting free thanks to their insurance company. The insurance company, like the oil producers, that is taking the financial hit. But it doesn’t change the fact that the patient, like the global economy, is still very ill. And when the cancer goes into remission, and the economies began to grow, the meds begin to disappear just as the lower oil prices ...

Full article: http://peakoil.com/consumption/oil-prices-are-plunging-he...

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