Cheap oil is good, right?

NVDL: Except that is disincentivises investment into alternatives, and into refining - both of which are bad news. $80-$90 happens to be a reasonable, healthy level.
Probably we will see prices rebounding quickly as world economies - some of them - find their feet again, and then the process will repeat (only with more and more casualties falling by the wayside).

clipped from www.ft.com More than four out of five refinery construction projects face cancellation as the worldwide collapse in fuel demand wipes out all but those developments with strong government backing. In a report, Wood Mackenzie, the industry consultant, concluded that only 30 of the 160 refining projects announced since 2005, which should be completed in the next two to seven years, would now go ahead.