US financial news has slowed considerably post election day, and it could be fairly quiet heading in to the holiday season

US financial news has slowed considerably post election day, and it could be fairly quiet heading in to the holiday season. One item of import however, is the continued drop in the price of crude oil. At roughly $77 per barrel, West Texas crude it the cheapest it's been since 2011. Gasoline prices are even cheaper in comparison at under $3 a gallon. It hasn't been this good for US drivers since 2010. The low fuels costs could spur additional retail spending over the holidays. That's obviously good news for retailers (who should also benefit from lower shipping costs). But low oil prices aren't all sunshine and roses. In particular, the booming shale oil industry in the US will be severely hurt by cheap oil. The same holds true for many deep sea drillers. Many of those companies will be fortunate to break even on production at the current per barrel price. As always, the benefits of high/low commodity prices are not necessarily cut and dry.