▁maintain ▁the ▁long - term ▁cred ibility ▁of ▁economy ▁policy ▁that ▁had ▁been ▁built ▁up ▁during ▁the ▁ 1 9 8 0 s . ▁ ▁To ▁avoid ▁being ▁accused ▁of ▁in action ▁in ▁the ▁face ▁of ▁potential ▁economic ▁tur bul ence , ▁the ▁U . S . ▁re vised ▁the ▁Gr amm - R ud man - H oll ings ▁Bal anced ▁Bud get ▁Act . ▁Initial ly , ▁the ▁act ▁prohib ited ▁the ▁U . S . ▁from ▁changing ▁budget ▁def ic it ▁targets ▁even ▁in ▁the ▁event ▁of ▁a ▁negative ▁shock ▁to ▁the ▁economy . ▁When ▁oil ▁prices ▁rose , ▁revision ▁of ▁this ▁act ▁allowed ▁the ▁U . S . ▁government ▁to ▁adjust ▁its ▁budget ▁for ▁changes ▁in ▁the ▁economy , ▁further ▁mit ig ating ▁the ▁risk ▁of ▁rising ▁prices . ▁The ▁result ▁was ▁a ▁peak ▁in ▁prices ▁at ▁$ 4 6 ▁per ▁bar rel ▁in ▁mid - Oct ober , ▁followed ▁by ▁a ▁steady ▁decl ine ▁in ▁prices ▁until ▁ 1 9 9 4 . ▁ ▁See ▁also ▁▁▁ ▁Energy ▁crisis ▁ ▁References ▁▁ ▁O il ▁Price ▁Sho ck , ▁ 1 9 9 0 ▁O il ▁Price ▁Sho ck , ▁ 1 9 9 0 ▁Category : E ner gy ▁cr ises ▁Category : G ulf ▁War ▁Category : P et role um ▁econom ics <0x0A> </s> ▁I ván ▁H . ▁Ay ala ▁C ád iz ▁( born ▁c . ▁ 1 9 4 0 ) ▁is ▁a ▁university ▁professor ▁and ▁att orney . ▁He ▁was ▁mayor ▁of ▁P