In the spring of 2006 the Indiana legislature forced the whole state to observe Daylight Savings Time. Up until this point, the majority of Indiana counties did not change their clocks every year.
This change in the states behavior was studied by University of California-Santa Barbara. Their conclusion? Last year the change COST Indiana residents over $8 Million in electricity bills.
As the Wall Street Journal article states, there is definitely more to the story of Daylight Savings Time. There may be social and other benefits, but the study does fly in the face of conventional wisdom. Turns out Daylight Savings is not an environmentally friendly activity, and is quite likely causing us to waste more energy.