Low oil prices are bad for manufacturers of oil drilling equipment, steel manufacturers, engineering companies, drilling companies, well servicing companies, manufacturers of components that go on a drilling rig, banks that have outstanding loans to these companies, and on and on.
And for more good news, the heads of Exxon/Mobil and RD Shell are predicting that the price of oil will probably not come back until mid 2017. This situation will affect the whole country as it develops.
A lack of manufacturing of anything not supporting the oil industry. Now would be an excellent time to actually build bridges etc. requiring similar material feeds and skill-sets.