Why low oil prices are great news for global economy

Money and oil

Low oil prices have created a lot of financial volatility from the start of the year.But unless you are really an energy company whose earnings and profit decline due to low prices why is all this global concern about low oil prices?

Why low oil prices are great news for global economy

1.Lower cost for companies
2.Lower cost for consumers
3.Incentive to produce more,move more,travel more
4.When oil prices a few years ago were at about 150 USD per barrel and now are under 27 USD per barrel everybody was complaining about exuberant high oil prices from a personal finance and investing perspective.Is this not odd and funny?

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