The New York Times editorial board has a reasonable take on the falling price of oil, enumerating several winners and losers.
Low prices, obviously, are good for consumers. But they’re bad for countries that don’t have diverse economies, and for people promoting alternative forms of transportation fuel.
“It’s bad for the environment because cheaper oil means fewer incentives to develop alternative and less carbon-intensive sources of energy,” the editorial states.
“… it is imperative that the United States and all other beneficiaries resist the temptation to use what could be a fleeting drop in prices to slow the search for alternative sources of energy. The planet, alas, does not have the resilience of oil prices.”