Quote:
Originally Posted by NoRegrets
Oil got to 145 dollars per barrel in 2005 and the president signed an energy policy opening drilling. The barrel price dropped to 40 dollars per barrel and gas dropped to 1.90 per gallon. Nothing else changed in the world. No new discoveries, Wars still in Iraq and Afghanistan, etc.
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After 2005, gas prices continued to rise, until it hit over $4 in the summer of 2008. That was one of the triggers that destabilized the economy, that really broke in October, by reducing driving and along with it, consumer sales. Another spike over $4 a gallon this summer could set spending back again. This is good for the ecology of the lake, but tough on too many people.