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May 22, 2015

Cheap oil prices have hurt, not helped, the U.S. economy, and that's a surprise

  • Cheaper oil and gas had been expected to turbocharge spending and drive growth, more than making up for any economic damage caused by cutbacks in the U.S. oil patch.
    • By CHRISTOPHER S. RUGABER
    AP Economics Writer

    WASHINGTON — If there was one thing most economists agreed on at the start of the year, it was this: Plunging oil prices would boost the U.S. economy.

    It hasn't worked out that way.


     
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