Falling oil prices boost Japanese economy by USD 59 billion !

[Aepsilons]

TOKYO, Jan 9 (KUNA) -- The recent declines in oil prices will likely boost the Japanese economy by about JPY 7 trillion (USD 59 billion) annually, Economic and Fiscal Policy Minister Akira Amari said Friday.

"Declines in oil prices offer benefits for Japan's economy as it stops outflow of capital, "Amari told a press conference. "The current oil prices are less than half their peak levels, and based on calculations the Cabinet Office, they give the Japanese economy a boost of some JPY 7 trillion," he said.

But the minister also said falling oil prices could become a serious issue if they badly affect the economies of oil-producing nations, expressing hope that energy prices will move in a stable manner.

Japan is the world's-third biggest oil consumer after the US and China, and heavily dependent on Middle Eastern oil.



KUNA : Falling oil prices boost Japanese economy by USD 59 billion -- Min. - Economics - 09/01/2015

 

[Aepsilons]

@LeveragedBuyout , @SvenSvensonov , @AMDR , @Peter C , @TruthSeeker , @Solomon2 --- Long Live Shale Oil !

 

[Chinese-Dragon]

The vast majority of countries in the world are benefiting from the falling oil prices.

And Saudi Arabia says they will not cut their oil production, even if the price falls to $20 a barrel!

BBC News - Opec oil output will not be cut even if price hits $20

They sound very serious about it, can you imagine the boost to global economic output if that happened?

 

[Timur]

so that is the trick to hurt iran and russia

 

[Aepsilons]

The vast majority of countries in the world are benefiting from the falling oil prices.

And Saudi Arabia says they will not cut their oil production, even if the price falls to $20 a barrel!

BBC News - Opec oil output will not be cut even if price hits $20

They sound very serious about it, can you imagine the boost to global economic output if that happened?

This is so helpful for our economies! I can't believe that these oil prices had boosted us to close to $60 Billion USD ! That capital saved can be put to good use in say --- infrastructure reforms, or --- placed into the sovereign wealth fund.

so that is the trick to hurt iran and russia

Cost to fill up an automobile really has significant decreased in Japan. Here in NJ, i'm paying $2.01 per gallon. Just 8 months ago, I was paying $3.35 per gallon.

I'm happy, and I'm sure everyone else is --- over here.

 

[TruthSeeker]

so that is the trick to hurt iran and russia

It's not a "trick"! The "trick" has been OPEC's monopolistic cartel all along. Let the rent-seeking bad guys of the world suffer.

 

[Aepsilons]

It's not a "trick"! The "trick" has been OPEC's monopolistic cartel all along. Let the rent-seeking bad guys of the world suffer.

All I can say is that -- I hope the United States keeps on pumping more shale oil. The drop in oil prices is helping many, many economies around the world.

 

[root]

Great i am happy with oil price decrease. Otherwise arab countries were looting countries with expensive oil prices.

 

[Judge]

All I can say is that -- I hope the United States keeps on pumping more shale oil. The drop in oil prices is helping many, many economies around the world.

Its also hurting the shale producers.

 

[Aepsilons]

Its also hurting the shale producers.

Well, let them both compete each other out. I'm sure the nations are enjoying this reprieve...

My wallet sure does.

 

[xunzi]

The world's biggest winners and losers from cheap oil, in one chart
The world's biggest winners and losers from cheap oil, in one chart - Fortune

 

[Aepsilons]

Philippines is #1 winner ... @Cossack25A1 , is the price of oil substantially cheaper now than say... last year? If so, how much is the difference ?

 

[Judge]

Well, let them both compete each other out. I'm sure the nations are enjoying this reprieve...

My wallet sure does.

The point is that if KSA lowers oil prices by a huge margin - say under $40, they will kill the shale producers and ensure that long term prices of oil remain higher than what is now.
For KSA, short term pain is long term gain.
For us, its long term pain.

 

[Aepsilons]

The point is that if KSA lowers oil prices by a huge margin - say under $40, they will kill the shale producers and ensure that long term prices of oil remain higher than what is now.
For KSA, short term pain is long term gain.
For us, its long term pain.

That's a valid point, @Judge .

 

[magic-007]

good , it's time for global economy to go out of the downturn.