IF the US Government grant all the licenses applied to drill for oil.
IF the oil companies start drilling these finds right away.
IF the oil companies start flooding the market.
IF if the price drops.
Robbie can fill his gas guzzler cheaper. </sarcasm>
http://en.wikipedia.org/wiki/1973_oil_crisis
Yes Robbie is right. If the price of oil was to drop the recession would ease faster. Like it did in 1973 and how would the West fair?
In 1973 the West owned the World. We produced and sold so much of what the world consumed. Some was produced in the Third World, for the first and the money stayed in the First World.
Today it's different. China, India, Brazil, etc will get a huge boost as well. If only with American consumers buying their goods. Countries with an existing oil industry will take a hit. Oil is a commodity traded on the Exchanges, these prices will take a hit.
By the time all the
IF fall into place. Robbie and many of other people will be gone from porn, sold their house, car and all the other baubles they collected during their good years.
<sarcasm>
And most will be driving second hand Skodas by then. </sarcasm>
Even if there is oil in the US ground waiting to be pumped out. Don't dream it's coming out and the price will drop and Wonderland is coming back.