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by pjc50
3794 days ago
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Generally it isn't bad for you if you're not in the oil industry or an oil-dependent country. Places like Venezuela, Nigeria, and even the fabulously rich KSA are in trouble though. It may be bad if you're in an energy-intensive business that's just made investments in reducing its fuel costs, because now the payoff for those investments is worse. The US was just starting to transition to an oil exporter due to unconventional oil, but now the price has collapsed the boom in North Dakota etc goes away. |
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