Risible rubbish and based on the baseless assumptions of a deeply incompetent economic illiterate of the first water!?
And shown/demonstrated in the first paragraph with the absurd statement that a low oil price stagnates economic growth.

Factually, low oil prices are vastly better than low-interest rates at stimulating economic growth in the real economy and well thought through cooperative capitalism turbocharges then sends it into overdrive.

THINK! Co-ops were the only private enterprise, free market reliant, business model, that survived the great depression mostly intact!

As universal opportunity/jobs growth that leaves few behind and makes one dollar do the work of seven or more.

But hey, that would severely curtail vested interest and self-service of the visionless and entirely uncaring political class only there to make a difference to their personal outcomes/bank balances!? Go figure!
Alan B.

Alan B.,
For oil producers, lower oil prices can stagnate economic growth. They were certainly one of the contributing factors to Venezuela's economic collapse, and indeed its economic decline in the preceding decades.

Of course for oil consumers, lower oil prices stimulate economic growth. But the effect is far weaker than it used to be, as oil inputs are a declining fraction of total inputs.

As the USA both produces and consumes a lot of oil, the net effect is not obvious. Michael Knox may be wrong, but his reasoning isn't sufficiently visible to be worthy of instant dismissal.