Deceptive spin about the benefits of those dropping oil prices

In the US, one lesson from oil prices: rich people win, again

Uh-huh.

I posted this comment.

What's that?

<“This is a critical distinction, since lower-income families are more likely to spend all of their gasoline expense savings than comparatively higher-income families,” Harris said, and spend it immediately.>

Phooey.

Anything that lowers fuel costs is disproportionately good for the poor and anything that raises them is disproportionately bad.

As for gasoline, the poor benefit more than others by any drop in the price of fuel since the utility of those dollars to them is considerably greater than the utility of the same number of dollars to people notably wealthier.

In fact, they also benefit from a drop in costs of running public transportation, on which many of them rely, since high fuel costs engender route-cutting and fare hikes.

And the same is true of the price of heating oil, critical to tens of millions in New England.

Anyone who denies these home truths is making lying propaganda to cover up for the very, very unpleasant fact that successful efforts of environmentalists to wean America from fossil fuels will be extremely damaging to Americans of the 99%, while only a relatively minor annoyance for Americans of the 1%.

Reality-based?

I think not.