Yes, by the end of the year. But they peaked in the summer and didn't start to crash until after the fiscal year ended (fiscal 2008 and calendar 2008 aren't the same). That accounts for virtually of the state's revenue increase.
Now did you care to look at what happend to state revenues during fiscal 2009?
Funny you should ask that.
She tried a novel idea when oil prices fell in 2009, and Alaska's revenues fell.
It's called SPENDIG CUTS.
Now we all know 0bama doesn't even know the meaning of anything called “spending cuts”.
0bama could learn plenty from Sarah Palin.