re: #407 Gus 802

Now, I am ignoring the impact it will have on the Gulf Coast states which is a different matter however it will create a drag on any recovery.

The drop is in the US domestic production. As the US is the biggest customer, this will impact price. The US will become more and more at the mercy of those producers.

Also, even should the oil price remain flat. The money will go overseas, not stay in the US. The tax on production will go to Brazil, not the US. All the hundreds of thousands of support jobs will go overseas. So even with a flat oil price the economic damage is vast.