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BPA Conference Draft, September 1516, 2016Lower oil prices and the U.S. economy: Is this time different? Christiane Paymaster, University of Notre Dame Lutz Lilian, University of Michigander Oil Prices
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Reduce production of oil to decrease supply
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Encourage alternative energy sources to reduce reliance on oil
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Implement price controls on oil to ensure lower prices
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Invest in technology to increase efficiency in oil extraction and refining processes
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Promote conservation and energy-saving measures
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Negotiate international agreements to stabilize oil prices

Who needs lower oil prices and?

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Consumers who rely heavily on oil for transportation and heating
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Developing countries that require affordable energy for economic growth
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Governments that aim to reduce inflation and stimulate economic activity
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Countries seeking to reduce their trade deficit by importing cheaper oil

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