Get real!

Oil vs. Natural Gas

Oil prices haven't fallen as much as natural gas because oil still has geopolitical risk, which natural gas doesn't have. Oil supplies face risk of disruption by violence in Nigeria, Iraq, and the ever present saber-rattling between the U.S. and Iran, and the war of words between Bush and Venezuela's Chavez.
If Israel or George Bush bomb Iran, then Iran can cut off 40% of the world's oil flow by blocking the Strait of Hormuz, and we'll see $300 oil. If McCain becomes president, he's even more likely than Bush to "Bomb bomb bom, bomb bomb Iran," as he has sung about himself!
On the other hand, most of the natural gas used in the U.S., comes from North America (USA, Canada, Mexico), which avoids the geopolitcal risk that oil has.