If the price of oil were to fall back to a reasonable price what effect would it have on the US economy?

A better solution would be to conserve the oil that we have, develop alternative solutions FAST, and tell the Middle East to FOAD.If the price of oil were to fall back to a reasonable price what effect would it have on the US economy?
It won't matter because the oil companies will still be jacking us at the pump. They pushed up prices to obscene levels so that we'll be happy when they drop down to less obscene levels rather than where they should be.





Record profits, my friends. That's what it's all about.If the price of oil were to fall back to a reasonable price what effect would it have on the US economy?
I would hope so
It would not change inflation because gas and food are not figured in on inflation.
it would be slow, but prices on virtually all food, energy and manufactured goods would go down, and people would start buying more, pumping more money into the system. it would also in the longer term raise wages and stall inflation.





its not a permanent or realistic solution though.
It would free up pesonal spending and start the economy rolling again and we would enjoy what we have been enjoying for the last 7 years!
It might give it a little boost. Oil companies would lose out a bit, but they're already making obscene amounts of money as it is, I think they can afford to give the average joe a break.
If we lowered the price, then we would run out faster and not be able to afford to get more. The prices are fixed by supply and demand. The rest of the world, especially China and India, have increased their demand for oil. That means the price has to go up. Oil companies now pay more to bring in oil and clean it for our use. These companies could not afford to bring in more if they charged less cause we would demand more but there wouldn't be enough money to bring it in and clean it.