There is an article from Larry Kudlow today predicting a drop in oil prices in the near future. Kudlow's prediction is derived from economic data indicating higher oil supplies in the near future, an increase in exploration and drilling by oil companies, and new legislation favoring drilling. Given that Kudlow is usually right about most of his near-term economic predictions and points to several factors contributing to the possible drop, rather than just one, this could very well turn out to be accurate.
However, if prices were to return to lower levels, it is actually not very good for the United States in the long term. I believe that $70/barrel for oil is the optimal price at which energy innovation can accelerate without tipping the US economy into recession. Technologies such as ethanol and tar-sand refineries become cost-effective when oil is above $70, but if oil returns to lower prices, this innovation will stagnate once again.
A chart of oil prices (wikipedia) indicates that in the last 120 years, only for a 4-year period from 1977 to 1981 was the real price of oil higher than it is today. Today's price is higher than it has been for 116 of the last 120 years. While the 1977-81 price spike caused a painful recession, it fostered significant innovation in engine efficiency and alternative energy. As oil prices dropped and remained low during the 1980s and 90s, innovation slowed. Click on the chart to make it bigger.
The US economy will not be able to reduce our dependence on foreign oil, and significanly reduce the pollution of oil consumption, without a multi-year period of oil above $70/barrel. This will be painful, but is the only way to enable the free market to achieve this necessary goal.