Better East Texas: The high cost of cheap gas - KLTV.com - Tyler, Longview, Jacksonville |ETX News

Better East Texas: The high cost of cheap gas

(KLTV) -

We all like gifts this time of year and unexpected gifts are the best, but some come with a price for our state.

The price of oil continues to drop and gas prices are dropping along with it. If oil stays where it is or drops more, the result will be billions of dollars back in consumer pockets across the U.S. But low oil is not all good. The stock market likes it to a point and then it become counterproductive. Also, low oil will probably force Russia to manufacture some type of crisis to further destabilize oil markets across the world, ultimately disrupting or just threatening to disrupt supplies of the black gold.

So there is indeed a price to be paid if oil remains low. Additionally, we are not known as a nation that has discipline through delayed gratification. Low oil prices give us a bit of a sugar rush of extra money that may be short-lived. The problem is that many people go on buying sprees that can become tangles when the extra money is gone. I don't want to put a damper on the season, but we need to see that cheap oil has a price.

Finally, the Texas economy is still very oil dependent and our state will be challenged if energy prices go through a sustained fall. So, save a little money, have a little holiday fun but put a little back for a rainy day because the words “cheap” and “energy” historically don't partner up for long.

Merry Christmas East Texas!

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