As oil prices, and consequently gas and heating oil prices, decline, the American shale boom will see a bust. There will be less demand for shale derived fuel sources, causing a drop in the stock prices and valuations of the shale extraction companies. This includes industries that produce shale extraction equipment.
Despite the steady tumbling oil prices, it can cause a pull back in the sale industry in the United States. Those who are strong always are known, while the weak ones disappear. The American people really need breaks on the high costs of fuel. It can become quite a disaster.
No, tumbling oil prices will not bust the shale boom, because the shale boom will flatten at some point. There is a way that shale will find their place in the market. The oil prices cannot last forever. If they do, it would hurt shale, but there is no way that shale will not still play an important part in energy, because supply and demand will balance out.
What will be affected will be the employment opportunities which exist because of the shale production. Companies survive because they are able to adapt to new challenges. In this case it is a lowering of the price of oil. The World oil producers will not be able to sustain low prices for extended periods of time.