First - This will mean lower gas prices. The input cost of oil continues to drop and soon you will see the gas prices melting to the lowest levels of the year.
As to what this means for the economy - oil is at current the lifeblood of American capitalism. What does it mean for the 'lifeblood' to be on sale and STILL nobody wants to buy it?
Watch the 44/45 level. It's a line in the sand.