The Energy Department has once again lowered its prediction for the price of gas next year. For 2015, the price will remain in the range of $2.94, a full 44 cents lower than the department’s most recent prediction last month. This is one of those rare developments that has no downside – unless you’re an Iranian mullah or a bark-shoed Green fanatic. While still high by historic standards, this price will inject over $60 billion into the economy, acting as a massive tax cut for drivers. Like all tax cuts, it will have ancillary effects on the rest of the economy, freeing money that can be spent elsewhere and lowering overall costs for production and transport. The reason for the windfall can be expressed in a single word: fracking. Along with boosting the economy, the technical revolution that swept through the American energy industry over the past […]