While the White House has said that lower oil prices help the US economy, closer look shows few jobs are likely to result and richest households will benefit most
This year’s crude-oil price drop will help US economic growth, but there are limits to how much it can do.
It can boost gross domestic product slightly if prices stay lower, and it can help industries that are heavily dependent on transportation costs. But considering crude oil prices are volatile and are unlikely to stay at this low level, the overall positive impact may only have a short- to medium-term impact, economists say.