Due to Tariffs, Falling Oil Prices Threaten Industry Stability

Douglas McIntyre, Editor-in-Chief at Climate Crisis 24/7, reports that falling oil prices — now at $60 per barrel, down from $80 — are pushing fracking operations toward unprofitability. While Saudi Arabia is believed to have a low production cost, its rising national debt raises that break-even to $70. This economic downturn may reduce oil production and pollution, and potentially lower gas prices for consumers. However, continued decline could financially strain major oil companies like Exxon.