[mysterio]

I guess the "hurricanes/unrest/a third world dictator got indigestion" excuses were downplayed that year. It's ok, though. The high prices will hopefully spur a market alternative. It would be nice to see some competition in the energy sector.

[thackney]

The high price also spur investment in traditional and nontraditional petroleum production. Which is what was lacking after 98~99. Which is what got us to the marginal surplus capacity. Which is what got us to the prices of today.

The energy market has been through these cycles several times before. This is nothing new, just the latest round.