Low Oil Prices Are "Unequivocally" Bad For 756 US Steel Workers, 2 Plants Idled

Citing "softening market conditions influenced by oil," US Steel has issued lay-off warnings to 756 workers in the US... Layoffs will begin in early March as both Ohio and Texas plants will be idled.

Via Bloomberg,

  • *U.S. STEEL SAYS 756 WORKERS GOT WARN NOTICES
  • *U.S. STEEL SAYS 614 WORKERS AT LORAIN TUBE PLANT, OHIO
  • *U.S. STEEL SAYS 142 WORKERS AT TEXAS PLANT
  • *U.S. STEEL CITES SOFTENING MARKET CONDITIONS INFLEUCNED BY OIL
  • *U.S. STEEL SAYS LAYOFFS TO BEGIN EARLY MARCH
  • *U.S. STEEL SAYS BOTH PLANTS WILL BE TEMPORARILY IDLED

Where's Larry Kudlow? But what about the lower costs? What about the "unequivocally good" meme?