Average amount US households making less than $50,000 a year spent on energy in 2012. It is thought that a $0.01 decline in energy prices puts $1 billion into the pockets of US consumers. Economists are now saying that the current US boom in shale oil and gas may taper if oil prices sink below $75 a barrel; at current levels of $80, investment is still profitable at 96% of US wells (International Energy Agency).
The oil and gas industry now accounts for 1.7% of US GDP (17T total GDP*1.7%) amounting to almost $300 billion dollars a year.
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