Once all the fur has flown and settled, PGH will glide past $20. It should be well above $20 in the next 6 months or so, but oil and NG prices could slow this down or speed it up. Military action (show of force, targeting nuclear development sites with missiles, etc) against Iran is already being discussed. Ke sara sara.
Oil and NG prices have stabilized. What will make them go up significantly is military action to stop Iran from attaining nukes. But because of the Iraq mess, Bush doesn't have the political support to do it. There are voices saying we have to accept the risk of a nuclear-armed Iran. Oil at $75 was due to speculation. The speculators have left the market. Oil and NG will not return to those prices on supply and demand alone.