Low oil prices are good for the consumer and the economy. Low prices act as a check on inflation. The oil industry, however, does not prosper during periods of low oil prices. Oil industry workers lose their jobs, many small wells are permanently sealed, and the exploration for new oil sources drops off. Low oil prices have another side effect.
People use more petroleum products when crude oil is cheap.
We buy bigger cars and drive more miles. The mission of NEED is to promote and energy conscious and educated society by creating effective networks of students, educators, business, government and community leaders to design and deliver objective, multi-sided education programs. NEED serves as the energy education component of NOIA's Public Affairs Action Plan. Home NOIA's mission is to secure reliable access to the nation's valuable offshore hydrocarbon resources in order that they may be developed, produced and supplied in an environmentally responsible manner.