episteme on 03 January 2015
It could bad for the North American economy, but i'm still not sure about all reasons that caused the lower prices... They invested a lot in fracking, oil sands and offshore drilling and they may not be profitable anymore. But that would actually be good for the environment (short-term) because they're the most polluting methods. Russian and Arabian oil is mostly produced with conventional methods that are less harmful.
If fracking and oil sands are still profitable enough: good for the NA economy, disastrous for the environment.
