We have all noticed the considerable decrease in gasoline prices over the last few years. According to the U.S. Department of Energy, the national average price of gasoline has fallen from $3.65 per gallon in 2012 to $2.45 in 2015. Drivers have certainly appreciated paying less at the pump, but for those in tune with the workings of the oil and gas industry, the change in commodity price has brought about a drastic change in the business. The upstream exploration business has seen a precipitous drop in activity resulting in extensive business cutbacks and layoffs, while the downstream refining and petrochemical plant are looking strong with increased margins.
Tuesday, September 20, 2016
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