To: bestintxas
The demand for oil is price inelastic in the short run. In the long run, demanders will choose the least-cost source of energy. That might be oil, natural gas, geothermal, hydroelectric, or solar, depending on current and expected future relative prices.
2 posted on
06/15/2015 5:41:17 AM PDT by
riverdawg
To: riverdawg
I guess this means BO and the rats will claim lower oil prices by election time.
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