Eggbert

Oil price collapse

With the impending collapse in oil prices which is what Mr Trump wanted I.e cheap oil for his voters won't this lead to a lot of redundancies in the fracking industry and associated industries? This coupled with the tariffs on imported steel will make fracking uneconomic. Also the amount of debt incurred in the fracking industry could cause serious problems in the financial system. It is not just OPECs responsibility to sort out this problem the US bears some responsibility. The oil industry is the largest industry in the world and steep falls in the oil price can have serious reprocussions for the global financial system!