I hear that cheaper oil is bad news.
Bad if you own an oil well
good if you are an average Joe
good for consumers
Of course it is good news if oil prices are declining
and it is what we should expect in a rational peaceful world
billions of people striving to live better lives
each seeking economy and more for less
gradually the living standard improves
we get more efficient
we live better using less oil
we learn to find and extract oil more cheaply
of course the price should always go down
and of course that is a good thing
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