by Justin Spittler
Americans are falling behind on their car payments…
If you’ve been reading the Dispatch, you know the price of oil has plummeted as much as 75% since June 2014. Two months ago, it hit its lowest level since 2003.
Since then, oil has rebounded 45%. But even after that big bounce, oil is down 61% from its 2014 high.
• The world has too much oil…
New technologies like “fracking” have unlocked billions of barrels of shale oil that was once impossible to extract. From 2007 to 2014, oil production in U.S. shale regions jumped eight-fold.