Does a Reduction in the Supply of Oil Make the Economy Stronger?
AEI · north america
The central KSZ point is that a U.S. crude oil sector that is a large net exporter will enjoy a wealth gain substantially greater than that accruing to a sector that is a large net importer. That is true (almost tautologically), but cannot overcome the larger reality that crude oil is an important economic input for the economy in the aggregate, and a reduction in the supply of oil is not good news for that economy in the aggregate. Beware journalists pretending to be economists. The post Does a Reduction in the Supply of Oil Make the Economy Stronger? appeared first on American Enterprise Ins
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