KQED Nightly Business Report January 20, 2015
A barrel at west texas intermediate dipped below 50. So how will this dramatic collapse in energy costs impact the economy and consumers . Steve liesman takes a look. Reporter plunging oil prices raised a few economic puzzles. First, since the u. S. Is now such a huge oil producer wouldnt it be a drag on the economy or a benefit . This is key to the first, what will consumers do with the wind fall . Save spend, or pay down debt . Disappointing retail sales in december suggest consumers parting only reluctantly with the extra petro dollars in their pocket. People are waiting to see if this is r...