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Originally Posted by Butterfly  ^ would you care to answer the question instead of jumping around like a clueless monkey ? again you failed to address the issues or my arguments that oil demand is inelastic because it's a necessity. I think you are confusing elasticity and inelasticity. If oil is not fully available, then the price elasticity of supply is 0, therefore the supply curve is vertical and completely INELASTIC. Only changes in demand determines the price of oil, as quantity can't change or supply is very limited. |
Read my post again. Any words you are stuck on, ask.
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Originally Posted by Butterfly I think I have demonstrated beyond any reasonable doubt that you are a clueless monkey trying to be right at all costs. You haven't demonstrated one bit any of your arguments, except hurling half truth, and flawed opinions. You have no arguments or logic except the usual crap you hear on the news or daytrader blogs. |
Being that I am the only one that has produced actual data, backed by citations, on this thread, most reasonable people would consider the reverse to be true.
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Originally Posted by Butterfly Quote: |
Originally Posted by bkkandrew people have been referring to the fact that the price is elastic relating to oil in the short term, as oil and its byproducts are essential to life | People ? what people ? blogs ? clueless news report ? please enlighten me ? |
Er, people on this thread:
http://teakdoor.com/issues/31530-oil...tml#post697807 (Oil Tumbles as Signs of Slowing Economy Spur Commodity Selling) http://teakdoor.com/issues/31530-oil...tml#post696954 (Oil Tumbles as Signs of Slowing Economy Spur Commodity Selling) Quote:
Originally Posted by Butterfly Quote: |
Originally Posted by bkkandrew so you admit being 100% out on your maths then. Good, thats a start. Hopefully soon you will admit being 100% wrong on most other things. | Not I wasn't. Just that your number wasn't significant enough to change my argument. You can't be that stupid or clueless. Or did I stroke a nerve again ? |
Changed your mind again? so now stating 2% when the answer was 4% is
not 100% out?