Cambridge, southwestern Nebraska | I never thought I would see a day when low oil prices would be bad for the economy but it is. A LOT of layoffs in the oil industry affecting other industries. Seems to me oil needs to be back in the $50-$70 range to keep everything on equilibrium.
Just like any commodity, we go through cycles. Have something cheap enough long enough and production will be trimmed back until supplies rebalance then prices will rise. |
Good big picture look at oil fundamentals for 2016
