An Oil Shock--For Some Anyway

Notwithstanding the opinion of rich Westerners who live in large cities and don't drive much anyway aside, cheaper oil is good for the world.

When oil prices are lower, poor nations are not further impoverished and rogue nation oil exporters have less cash to cause us problems.

So it is good to read that oil prices continue their rapid decline, to the mid-$60s per barrel. This is less than what some rogue nations need to properly fund a proper terrorism campaign/influence peddling racket while keeping the local folks content enough not to revolt.

And the next time that someone says increasing production of oil here in America will have negligible effects on oil prices, recall how far prices have fallen since July with a fairly negligible decline in usage.