Quote:
Originally Posted by bkkandrew  ^^How difficult is it for you to understand this excerpt from my post? Quote: |
On this thread, 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. Any disposable income by both individuals or companies will be used to fund any price increase, up to the point when disposable income is reduced to zero. This is the same as the price elasticity of food. Once the price goes beyond the level that can be afforded by total disposable income individuals riot (as has been happening) and companies collapse in part or whole, see airlines going bankrupt, or reducing their operations.
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Seriously Butters - exatcly what in the above paragraph do you disagree with?