Alva Review-Courier -

By W. Rocky Newman
Miami University 

Crash in oil prices will hurt the U.S. economy from Texas to Wall Street

 

December 15, 2017



(The Conversation is an independent and nonprofit source of news, analysis and commentary from academic experts.)

(THE CONVERSATION) Traditionally, low oil prices have been a boost to economic growth in the U.S. The crash in oil prices over the past two years, however, has produced a decidedly mixed picture – with potentially worrying implications for the economy as a whole.

When oil prices fall, consumers spend less on gasoline and have more disposable income to spend on other goods, which contributes to economic growth. Conversely, as oil prices have gone up, consumers have less disposa...



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