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| Re: Falling Oil Prices Make Double-Edged Sword (1235209) | |||
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Re: Falling Oil Prices Make Double-Edged Sword |
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Posted by Charles G on Tue Oct 21 16:33:13 2014, in response to Re: Falling Oil Prices Make Double-Edged Sword, posted by AlM on Tue Oct 21 16:00:54 2014. I wasn't really responding to the discussion of the use of "double edged sword" in the article, but specifically to Will's assertion that the references to a weak economy were an election-induced propaganda effort.The article doesn't support the "double-edged sword" headline -- but there is a bit of a double-edged sword for the US economy. One of the brightest growth spots in the US economy in recent years has been the oil in the Dakota's and the ensuing transportation of that oil (however unsafe that may be -- build newer railcars! even more jobs!). But that oil is still costly to extract relative to the oil from the Middle East. If the price of oil falls below the cost of extraction then those jobs in North Dakota will start to disappear, the oil trains will stop running and the new railcar production will stop. That is a double-edged sword. I tend to think that the other economic benefits would outweigh the negative impact on the oil industry in the US -- but I haven't really thought about it much. But at least mentioning that would have been the correct use of the double-edged sword term. |
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