Oil prices are now at their lowest level in five years, having sold off some 45% from their June peak, a scant five months ago. It’s a crash. Lower oil and gas prices are good for the economy but an oil crash is probably not. Let’s allow for some nuance in this discussion. I believe that a sub-$3 dollar per gallon price at the pump is wonderful for the American consumer – and the American consumer is 70% of the economy. I am not so naive, however, to believe that a crash in oil and the subsequent rolling bankruptcies that would come from something like that would be a positive.