the fact remains that demand for oil is not elastic.
we may use less of it but we will always use some.
More when the ‘global warming/climate change’ patterns
hit and blizzards/whiteouts blanket the NE/atlantic seaboard.
“the fact remains that demand for oil is not elastic.
we may use less of it but we will always use some.”
Prices affects demand in the margin. Raising it a dollar doesn’t have to result in people abandoning their cars and walking everywhere for it to be “elastic”.