History of natural gas and oil prices

Just recently read an article from the Economic Review by the Federal Reserve Bank of Kansas (here) about energy price states.  I thought that this particular graph from the report (here) highlighting energy prices and recessionary cycles over the course of 40 years gives some perspective on the run up of natural gas and oil prices.

Continuing this trend means guaranteed higher energy prices in the future. How high do energy prices have to go in order to provide incentive for alternative means to be viable?


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