Most consumers and businesses are benefiting from the recent decline in energy prices in gasoline and natural gas . As always, there are winners and losers. Lower prices at the pump are allowing more people to travel more frequently or spend their new found discretionary income. Businesses lower energy budgets are allowing expansion and new hiring. However, those that are in the energy industry have seen exploration and production budgets slashed, which have caused massive layoffs and or bankruptcies. The oil and gas boom in North Dakota has come to a screeching halt due to lower prices. I have seen these types of cycles in the past and usually the ability to rebound from very low energy prices, at least for energy related companies, have been much slower than the rest of the economy. Even if this winter turns abnormally cold, prices for natural gas will continue to remain low at least through Q2 2016.
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