The lower cost in global fuel prices can provide a unique avenue for countries to carry out energy subsidy reforms and develop energy efficiency programs with a much smaller negative effects on the population than otherwise.
The whole Arab Spring movement has woken America up to the fact that we've been propping up some pretty brutal leaders for a long, long time. Which leads us to the uncomfortable position of not having a clear ideological position.
Feed the US economy cheap oil, and you'll see robust growth rates and a drop in the jobless rate to four-decade lows -- no matter who's in the White House. But throw in $147-per-barrel oil, and the US economy stops dead in its tracks.