The oversupply of oil appears likely to dry up as global energy needs rise and foreign oil-producing countries curb output. US producers have already begun to benefit as a result. Although consumers could pay more at the pump as crude prices stabilize, increased domestic production means that a greater share of fuel prices could return to the US economy as capital investment.
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As oil prices begin to rise again, capital investment may not be far behind.Read article about Will Oil’s Resurgence Spark Economic Growth?
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Jim Glassman, Commercial Banking’s Head Economist, explains why the recent trend in consumer spending habits differs from past slowdowns, and the factors that could prompt a spending surge.View video about Are Consumers Spending Again?
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