A problem congress could fix…
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As we’ve been predicting here for some time now, the sustained low oil prices which have resulted from the domestic energy production surge have started hitting the industry hard as the immutable laws of the free market kick in. We’ve been enjoying great benefits from low gas and heating prices, but manufacturers can’t keep selling oil below the sixty dollar per barrel level and remain profitable because of some of the baseline costs of drilling which don’t change with the market prices.