Falling oil prices is good for many parts of the US economy. Obviously it isn't good for industries connected to the higher price of oil, but lower prices are good for many. Consumers will benefit the most, as lower prices on utilities and at the gas pumps should be expected. In theory, companies will have more profits to spend on growing their businesses.
The people who actually sell the oil do not profit from the falling prices, of course. This will damage a large segment of the economy. However, the falling prices will benefit everyone else. When oil prices fall, many other products can go down in price because of lowered shipping costs. People also have more money to spend when they are not paying as much for gas.
The U.S. economy is driven by consumption and one of the biggest obstacles to consumption are high oil prices, which eat into the spending budgets of American families. These oil prices cause high heating bills and expensive gas fill ups, taking money away from businesses, which in turn leads to less demand for workers.
Falling prices in oil can only have a positive effect in the U.S. Economy. Not only can this give customers better prices to purchase from, but it could also create more businesses in that market. It appears that falling oil prices could only increase business on both consumer and business sides.