Businesses and consumers alike love falling energy costs.
Obviously, the more energy-intensive users benefit the most from the recent ~40% plunge in oil prices.
“US Bureau of Economic Analysis (BEA) data show that energy input costs equate to more than 2% of US private industry gross output (revenues),” Goldman Sachs’ David Kostin noted. “A decline in oil prices of 40% should therefore lower costs and expand margins… Inputs vary substantially by industry, with transportation benefiting the most and information technology the least.”
Here’s an industry breakdown from Kostin.