“As summer turned to fall, sky-high pump prices in the face of a weakening economy led to lower demand and a drop in those prices. In other words, market forces do work, and they tend to counter big price moves in one direction or the other. The financial meltdown may have weakened faith in markets over the last few weeks, but the precipitous decline in oil and gasoline prices should help strengthen that faith.”
He also explains why additonal federal regulations will make energy more expensive. On the state level additional regulations passed in HB 2200, such as mandated reductions in energy useage, will raise the cost of electricity.