Oil prices have recently fallen to near record lows. What are the risks and benefits?

Risks:

• Increased instability in the Mideast as governments are less able to buy the loyalty of the people.
• Likely slow the transition to electric vehicles, may slow the overall decline of carbon emissions.
• Many job losses in petroleum-producing locations, especially higher cost producers.

Benefits:

• Possibly stimulate the global economy, especially good for fast-developing oil importers like China and India.
• Might push oil producers toward economic reforms that will be needed eventually anyway.
• Might help avert some of the resource-war scenarios that have been described as inevitable by Malthusians.

Debatable:

• Geopolitical power relatively shifts away from Russia, Iran, Venezuela, Saudi Arabia, toward NATO/OECD and China.

Any important dynamics I'm missing?