Domestic political turmoil in the countries whose budget depend largely on the oil price: See e.g. election upset in Venezuela, Russia aggressive in middle east potentially to overshadow news of worsened economy at home, Turmoil in Nigeria etc).<p>Internationally it means states like Russia won&#x27;t have the same economical and political clout they had at $100+, so instead will rely on other means to throw their weight around, such as military threat.<p>Economically it&#x27;s good: lots of the saved money ends up in the hands of consumers.<p>Environmentally, it&#x27;s less good of course. Alternative energy will be less attractive in the near future.<p>So it&#x27;s not all rosy, but the downsides are mainly due to a <i>falling</i> oil price, rather than a low one. The volatility upsets budgets, which causes problems.