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Los Angeles Times | November 10, 2014 | by ROBERT A. MANNING
Here at home, the news, other than for shale investors, is mostly good. Americans will see an immediate benefit, with gasoline at $3 a gallon or less, a boon not just for drivers but also for the businesses that serve them. Lower prices are likely to spur both consumer spending and the overall U.S. economy. The oil crisis of the 1970s brought long lines at U.S. gas stations and high prices. Today we have a new oil crisis, but its negative effects are primarily being felt in other parts of the world. This time, the U.S. is largely a winner, both at home and abroad.
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