Consumers may cheer the lower prices at the pump, but jobs are being lost in the energy industry across the world
America’s oil boom is faltering, and with US crude oil prices hitting lows unseen since 2009 this week, experts believe the fall may continue taking thousands of jobs with it.
Consumers may cheer the lower prices at the pump, but jobs are being lost in the energy industry across the world. In June, the Energy Information Administration said the US petroleum industry lost about 6.5% of its jobs from October to April, or about 35,000 of its 538,000 workers, citing US Bureau of Labor Statistics data.