Falling oil prices are a good thing. They are good for the European economy. The only problem is that the low prices are not going to last, I think it is temporary. But the idea that Europe needs inflation is a complete and utter nonsense. Economies benefit from falling prices. Imagine if crude oil was free, if Europeans could have all the oil they wanted and did not cost anything. Wouldn't that be fantastic?
Related exchange traded funds: Energy Select Sector SPDR ETF (XLE), United States Oil Fund LP ETF (USO)
Related stocks: ConocoPhipllips (COP), Exxon Mobil (XOM), Marathon Oil (MRO), Schlumberger (SLB), Halliburton (HAL)
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
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