Won't help them avert a massive collapse (India may be an exception).

The significant impact of the falling oil price is it indicates the global economy is collapsing and it will set off a derivative chain reaction contagion due to the $trillions of derivative contracts written when oil was $100. Which will cause banking insolvency, which will cause a need for more bailouts, but this next time the plan is to take the bailouts directly from the bank depositors, which will be massively deflationary.