Cheaper Oil Isn’t the U.S. Boon It Used to Be
Expanded domestic production has tied more of the nation’s investment, manufacturing and jobs to oil
The U.S. economy’s relationship with oil is changing.
In the past, when the U.S. imported most of its energy needs, declining oil prices were a bounty to households and businesses. A rule of thumb was simple: Oil-price drops boosted U.S. economic output.
...