Reply #112: Prices peaked in mid 2008

[BklnDem75]

There was a budget increase because energy prices peaked in July 2008. In both 2009 and 2010, the budget remained the same though prices dropped to pre-crisis levels. Now he's attempting to bring the budget back to pre-crisis levels. Should we stay at crisis levels forever?


'From the mid-1980s to September 2003, the inflation-adjusted price of a barrel of crude oil on NYMEX was generally under $25/barrel. During 2003, the price rose above $30, reached $60 by August 11, 2005, and peaked at $147.30 in July 2008.<1> Commentators attributed these price increases to many factors, including reports from the United States Department of Energy and others showing a decline in petroleum reserves,<2> worries over peak oil,<3> Middle East tension, and oil price speculation.'

http://en.wikipedia.org/wiki/2000s_energy_crisis


Really folks... it wasn't that long ago.

*Not a response to the OP, but for those who can't bother to see why the budget was raised in the first place.