Kasich on Low Oil Price: ‘When Oil Prices Go Down I’m Celebrating’

‘It gives people more spendable money’

HEWITT: “Now a difficult policy question. Ohio has benefited from the fracking revolution but now the international economy has got $28 oil. Does fracking produce too much energy and is that destabilizing the international economy as oil backs businesses and bonds struggle?”
KASICH: “First of all, fracking in Ohio does not produce a great number of jobs. We estimate direct and indirect about 20,000 out of the 385,000 that we’ve grown. Ohio has become very diversified. The people will still frack, and we believe that the real job growth in Ohio is related to the development of things like plastics and alternative energy. When oil prices go down as much as they can, I am celebrating. It gives people more spendable money. I think it’s a good thing. Now oil will rebound, but right now, you have a glut and it also reflects, Hugh, the fact that the international economy is not humming, we can get America moving again with a strong economy, it will pull everybody along and that’s what we’ll look for. And by the way, that’s what I know I can do.”

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