Oil prices

[Geordie_Rob]

***This isn't meant as an econmics post or anything like that. It's something I see as a genuine risk/threat in the future.***

So incase anybody hasn't noticed, oil prices have plummeted over the last 4-8 weeks. It's very welcome getting petrol at a more affordable level again (£1.05 per litre rather than £1.33 I paid just a few months back). It's giving me more cash in my pocket, & soon enough prices of goods should drop as costs to the big stores/manufacturers etc.. go down for importing & transporting them for us to buy like good consumers.

However it's one of the reasons inflation has gone down & is at risk of deflation. Obviously lower prices sound great, but if the govt is getting less of a cut in taxes due to lower prices & stores are reducing prices to under cut their rivals, how long will it be before jobs are cut? Already there's thousands of jobs at risk in Scotland linked to the oil industry. Then the tanker drivers are going to be paid off. Councils will get less cash because more people will get out of work benefits so theyll cut staff. Thousands of new unemployed can't afford to but stuff anymore so retailers cut staff & so on & so on.

I work in the travel industry & less leisure travellers (who are skint now after losing their job above) could mean my employer pays me off & suddenly I won't be able to afford anything. Which is a direct risk to my way of life.

I absolutely hate being taxed to hell, but I'm starting to wonder if this cheap oil lark might be more bother than benefit long term.

What's your thoughts?