1 right and investers invest in a commodity based on what they think CONSUMERS will pay, if they didn't think consumers would pay for it at that price they wouldn't invest
http://marketplace.publicradio.org/display/web/2011/04/28/pm-exxon-mobil-reports-outsize-profits/
2 yes oil is inelastic because there is no substitute, like I said, if we had stayed the course set in the 70's we wouldn't have this problem today. Man is a short term selfish thinker ergo the reason we didn't learn from history and get to feel the pain all over again
http://marketplace.publicradio.org/display/web/2011/04/28/pm-exxon-mobil-reports-outsize-profits/
2 yes oil is inelastic because there is no substitute, like I said, if we had stayed the course set in the 70's we wouldn't have this problem today. Man is a short term selfish thinker ergo the reason we didn't learn from history and get to feel the pain all over again
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