Do Americans Pay Too Little For Gas?
Others suggest that we should be careful what we wish for. Economist Jeff Rubin says "Oil prices caused the last recession, and oil prices will cause the next one as well." (more info below fold)
From Jeff Rubin, How Do Oil Shocks Cause Recessions?
As oil prices soared from $35 per barrel in early 2004 to almost $150 per barrel in the summer of 2008, consumer price inflation in the US tripled to a rate of almost six per cent. It didn't take long before interest rates caught up to inflation and, in the process, blew up the massively over-leveraged subprime mortgage market and the economy with it.