$30 oil is changing the world and Washington

[Geee]

The Hill:

Historically low oil prices are changing the debate over energy policy as they create concerns for the domestic industry and threaten the global economic order.

 

The crash of oil prices began in late 2014, dropping the cost of a barrel below $50 for nearly nine months. It hit a low point below $27 in February and has hovered near $35 ever since. The last time oil cost over $100 per barrel was July 2014.

 

The plummeting price has caused a decline in the U.S. industry but been a boon for drivers, who are paying around $2 per gallon of gasoline.

 

That’s completely changed the politics surrounding energy, with the White House and Congress under no pressure to reduce gas prices.

 

“If the price were high and people were screaming, it would be the first question in the debate,” said former Sen. Mary Landrieu (D-La.), who now lobbies on energy matters.

 

She says the 2016 presidential candidates are all getting a “free ride” on the issue.