KevinWestern
Hello
Hmmm.. If I recall it was right about that time that George Bush lifted the moratorium on offshore drilling, with Congress following suit in September of 2008.
Maybe that played a small role (very small role) in the reason why prices dropped, but I don't think that moratorium lifting was the anywhere near the primary reason gas fell by almost 60% between June and November.
The primary reason (in my opinion) was that when the economy slowed down, crashed, demand for oil also fell and thus brought the price down with it. Plus, we were just coming off a huge oil price spike, so the resulting price fall was also "over correcting" and dramatically low (hitting rock bottom in in Oct-Nov 2008). It quickly bounced back up in the months following.