Here is your history lesson to start your weekend:
July 14th, 2008:
President Bush lifts an executive order banning offshore oil drilling, and urged Congress to do the same.
September 16th, 2008:
The House of Representatives approved legislation that would open waters 50 miles off the Pacific and Atlantic coasts to oil and natural gas development.
September 27th, 2008:
The U.S. Senate eliminated a 27 year old ban on offshore drilling off of both coast of the United States.
What effect did these three things have on the price of gas?
July 2008: a gallon of gas costs $4.09 a gallon.
December 2008: a gallon of the same gas costs $1.689 a gallon.
Do you think there is a lesson for us there?