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Why are low oil prices bad for Americans?
http://news.yahoo.com/s/afp/20081120/ts_afp/commod...
They dont seem to be rejoicing the low prices. They use words such as "recover" when the prices goes up slightly.
7 Answers
- Anonymous1 decade agoFavorite Answer
They aren't in and of itself. The price of a barrel of oil dropped because Americans started driving less and less, thus lowering the demand.
The reason you can perceive it as being "bad" is because part of the reason that Americans are buying less and less is that our economy is hurting pretty badly right now. Americans that drive less don't put as much money back into the economy. For instance, over summer, many families including mine cut back on the amount of vacation-time because of prices.
Now that they're low, people still aren't buying gas because everyone is being tight about where and how they spend their money.
- 6 years ago
I don't believe Americans are driving less. Maybe there is a over supply at this time. Since gas is so cheap money is being spent elsewhere.
- 5 years ago
Latency, your opinion does not matter, you do not even know the difference between "there" and "they're". And, you are obviously not invested in the stock market.
- Anonymous1 decade ago
because we have to find another things to whine about
Plus, OPEC gets mad and throws a baby fit, that is bad
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- Anonymous1 decade ago
there not, who said that there bad?? good for me
- Anonymous1 decade ago
I dont think they are