So far this winter season, we have received a total of 8.3″ of snow. Last year at this time, we had shoveled 24.1″ of the awful stuff.
The gas prices in our area are at $1.89 — about 60% lower than the $3.19 that we were charged a year ago.
Both facts and the information they represent are cause for great glee in my neighborhood. One represents a huge savings of time and mental stamina, while the other positively impacts the pocketbook…
…and yet, I know that we will soon be hearing about the negative implications of both. It took the multiple-feet of snow last year to get us out of the drought. I fear that the lack of piles to slowly seep into the water table will come back to haunt us in other ways this spring.
And we know that the drop in oil prices is impacting investors and businesses throughout the global economy. The United States both exports and imports oil, leading to mixed impact overall. Oil production jobs, and the states that house them, are at jeopardy of declines, while other areas benefit from increased spending by consumers. Other countries are looking at reduced subsidies, revenue shortfalls in exporting nations, deflation and forecasts of recession due to lower growth.
There is no such thing as all good news or all bad news. Just as we know there are always two sides of a story when someone is telling it, there are also two sides of the issue on a more global scale.
So enjoy the low prices and the minimal snowfall while you can. You’ll pay the price for both later!
Schnack’s Weather Blog by Mark Schnackenberg on www.addins.kwwl.com — snowfall as of January 14
Here are the big winners and losers of low oil prices in by the Economist on http://www.businessinsider.com on October 26, 2014