Oil Price Impact

Oil prices not only have fallen precipitously over the past few weeks, but also they have declined at an unprecedented rate of speed. They are down by more than 50 percent below the high price of $147 a barrel set in July.

Lower oil prices are good news for consumers because they have led to sharp price declines at the pump, but they also have disrupted the investment plans of some energy companies and oil-producing nations who are adjusting their budgets in line with the lower prices.

This week I had the opportunity to interview Howard Simons, strategist for Bianco Research, about the oil price impacts. Mr. Simons speak for himself in this podcast and not for API: