POOR BARRY...:

Oil Prices Plunge in August: A 'Tax Cut' for the American People (IBTimes, August 31, 2011)

[T]he decline in the price of oil, if it holds, represents perhaps the best news for the U.S. economy this year, outside of the end of the period of large job layoffs by U.S. corporations.

The reason? Each $1 per barrel drop in oil increases U.S. GDP by $100 billion per year and every 1 cent decline in gasoline increases U.S. consumer disposable income by $600 million per year.

...the one bit of "good news" is disastrous for his supposed energy/environmental policy. And he lacks the vision to do anything about it.

Posted by oj at September 1, 2011 6:30 AM
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