No way Jose. Their energy bill is going to drop. Workers will see an increase in their expendable dollars because gas is down below $2 in some place where it used to be over $3. That means more money for buying gifts, travel, eating out etc. this in turn will move the economy. There is a light at the end of the tunnel.
You are correct.... having gas drop by almost $2 a gallon nationally and, along with heating oil reduction, is kind of like a small stimulus payment. It's not enough to offset a interest rate hike on an ARM mortgage but, on a national (global?) scale, it is like a well-needed booster shot.