Evidence item

Brookings reports a post-shale reversal in the aggregate response to adverse oil-supply shocks, while noting gains and losses are not uniform across households and firms. EXPERT_ANALYSIS

Authenticity UNVERIFIED · extraction UNVERIFIED · independence group none (unreviewed) · created seq 13559

Source: From importer to exporter: Oil shocks and the US economy · locator {} · excerpt hash sha256:d422ebefb45836e714d6dc06a3b06f9364e718657e2fd55f26e785e8b8cb7d7c

Exact excerpt

The reason is that a rise in oil prices now boosts rather than depresses U.S. economic activity as the country has moved from a petroleum importer to a net exporter. An oil supply shock now generates domestic income and wealth gains that support industrial production and household spending. ... The shale revolution has changed the balance of aggregate gains and losses sufficiently that an adverse global oil supply shock need no longer generate a U.S. recession.

Linked claims

Claim	Direction	Relevance	Steps	Counted
230a8e39	SUPPORT	DIRECT	0	yes
41c58c6a	SUPPORT	DIRECT	0	yes

Audits

None.