Tradelines News

Get the latest news and updates on cross-border customs and international trade.

Shale and Cheap Oil Make America the New Lucky Country

Posted December 01, 2014

Under Economic Issues, International Trade Issues

(Tom Stevenson – The Telegraph)

With energy prices tumbling, low inflation, and economic prosperity, the US is truly a land of plenty

We normally think of Australia as the “lucky country” but that label is surely better applied to the US today.

You could hardly envisage a more benign backdrop for its economy and stock market than the current environment of tumbling energy prices, low inflation, narrowing deficits, competitive industry, a popular currency and consequently lower-for-longer interest rates.

The frantic shuttle diplomacy in the run up to last week’s Opec summit in Vienna illustrated the pain being felt by the world’s less favoured nations – those like Venezuela and Russia which simply can’t balance the books at a $75 oil price. Read more here.