10-26-2023, 07:46 PM
(10-26-2023, 07:40 PM)Sociopathicsteelerfan Wrote: Except oil and gasoline isn't something people can do without. You still need to drive to work. Our entire delivery infrastructure uses oil and gas. It's not an optional purchase for the vast majority of people and certainly not for industry as a whole. Also, your point about raising prices higher than necessary rather contradicts your premise, that if the price is higher demand decreases.
Now, if your assertion is that the oil and gas companies now their product is a necessity and artificially raise their prices, then yes, I would agree that is wrong. Do we have proof that is happening?
Except we know that the increase in prices will cause consumer demand to decline, it's in the data.
![[Image: Simple-supply-demand-diagram-for-a-fossi...m-Simm.png]](https://www.researchgate.net/publication/337585213/figure/fig5/AS:830077742899202@1574917364042/Simple-supply-demand-diagram-for-a-fossil-fuel-sector-eg-crude-oil-taken-from-Simm.png)
And no, that doesn't contradict my premise. If the quantity/volume sold decreases, but profit increases, then the price had to have been inflated to a level that was greater than needed to make up for any increases in prices they incurred.
"A great democracy has got to be progressive, or it will soon cease to be either great or a democracy..." - TR
"The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little." - FDR
"The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little." - FDR
