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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Katelew who wrote (64509)	5/8/2008 6:04:44 PM
From: TimF	Respond to of 541853

You're wrong. Demand for oil worldwide is up. That statement doesn't make a lot of sense. Demand for oil is up, but I never said it wasn't. High prices put downwards pressure on demand, but that doesn't mean that higher prices cause demand to decrease, it might (if the oil costs $80000 per barrel there wouldn't be much demand), but it doesn't always do so because it isn't the only factor determining demand. Technically changes in prices move the selling price along the demand curve, changes in other factors, like expanding and modernizing economies increasing their energy use, shift the demand curve.