Posted October 20, 2014
Shale Boom Helping American Consumers as Never Before
Bloomberg: Oil traders might see the 27 percent slide in global prices as a bear market. For U.S. consumers, it’s more like an early holiday gift.
The drop in crude has pulled retail gasoline down more than 50 cents a gallon from the year’s high in April. That means annual savings of $500 for the average U.S. household, which consumes about 1,000 gallons of fuel a year, according to data from the Federal Highway Administration and Energy Information Administration.
“That’s like somebody putting dollars right in your pocket,” David Hackett, the president of Stillwater Associates, an energy consultant in Irvine, California, said by phone on Oct. 14. “That sounds like Christmas presents, going out to dinner, being able to do something.”
Read more: http://bloom.bg/1rITsjg
More industry news:
U.S. Oil Imports Reach Lowest September Level in 18 Years: http://buswk.co/1DssLrY
Despite Slumping Prices, No End in Sight for U.S. Oil Production Boom: http://nyti.ms/1ybGal4
Home Heating Costs to Drop this Winter: http://bit.ly/1t2RIXT
Opinion: Oil, the Real Economic Stimulus: http://bit.ly/1tFrnB5
Frack Sand a Booming Business: http://bit.ly/1x0v8OA
ABOUT THE AUTHOR
Mary Schaper is a Digital Communications Manager for the American Petroleum Institute. She previously worked on Capitol Hill for the Senate Energy and Natural Resources Committee as Digital Director and for Senator Lisa Murkowski. Before coming to D.C., she spearheaded digital strategy for Murkowski's successful Senate write-in campaign in 2010. Schaper enjoys traveling and taking in the local culture alongside her husband, their son and loyal springer spaniel.