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Politics : Politics of Energy
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To: J_F_Shepard who wrote (1507)8/12/2008 5:44:03 PM
From: Brumar89  Read Replies (2) of 86355
 
Are you kidding? Are you saying you think a 10% increase in supply would produce a 10% change in price?

So in your mind, a doubling of supply (+100%) would produce a 100% change in price?

You need to take an econ course and learn about price elasticity.

In the meantime, consider that the gasoline price increase in the US over the last year has caused consumers to reduce their demand by about 3-4%. The change in price was a lot bigger than the change in demand you'll note.
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