NEW YORK (TheStreet) -- The bear market in oil has been killing the stock market this week, as companies involved in the oil business fell out of favor and traders sold other stocks to get out of those positions.

The bear market in oil has done grave economic damage to the center of the country. The 11 million barrels of oil we now produce each day are now worth $275 million less than they were a few months ago, and the ripples from that loss are spreading through North Dakota, Oklahoma and Texas.

But there are two sides to every story. On a fulcrum day, when stocks may snap back after being oversold, the search will be on for new market leadership.

This oil price collapse will also create new winners.

Start with this. Consumers on both coasts have just gotten a raise. Gasoline prices peaked at $3.69 a gallon in June and are expected to reach $3.14 a gallon by year-end, according to the Energy Information Administration. That represents a savings of over $10 on each 20-gallon fill-up.

Consumers aren't the only winners.

Chemical companies that use oil as a feedstock in their production, like Goodyear (GT) - Get Report and Dow Chemical (DOW) - Get Report , are seeing lower costs and may thus see higher profits this quarter.

Even some of the oil players are hanging in. Kinder Morgan (KMI) - Get Report and Enterprise Products (EPD) - Get Report , which move and store some of the current oil glut, are both higher than they were six months ago.

Transportation companies Federal Express (FDX) - Get Report and UPS (UPS) - Get Report have both outperformed the S&P 500 (SPY) - Get Report average over the last month. Trucking companies like Old Dominion (ODFL) - Get Report , which hit a new lifetime high just in September, have been rising in price this week.

Consumer prices are always "sticky downward," as companies seek maximum profit from cost savings. So the impact of the oil price drop on consumer pocketbooks is delayed. And it's delayed further by the Ebola scare.

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That means the losers in oil's fall are easy to see, and the winners will take time to emerge.

Walt Disney (DIS) - Get Report has been outperforming the S&P 500 dramatically all year. The stock has snapped back from a low below $82 a share as investors recognize what lower gas prices may do for the company's theme parks. Comcast (CMCSA) - Get Report , which owns the Universal Studios theme parks, may see a similar lift.

Lower gas prices mean the roads may be crowded this holiday season. Choice Hotels (CHH) - Get Report and Marriott International (MAR) - Get Report have both bounced back from their lows early in the week, and both have outperformed the market averages over the last three months.

With more money in consumers' pockets, mid-market retailers like Target (TGT) - Get Report and Kohl's (KSS) - Get Report may have a better Christmas season than they now expect. If Ebola remains a concern, then Amazon (AMZN) - Get Report may look oversold.

The reverse oil shock of the last few months has hurt the U.S. harder than it might have -- had we not fracked our way to prosperity. But those who use oil, and all refined products, are seeing lower costs and may see more profit ahead.

At the time of publication, the author was long AMZN.

Follow @danablankenhorn

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.

TheStreet Ratings team rates DOW CHEMICAL as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

"We rate DOW CHEMICAL (DOW) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, solid stock price performance and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

You can view the full analysis from the report here: DOW Ratings Report