Comments on: OPEC members want to cut their output of crude oil to reduce the supply.? http://askalandman.com/opec-members-want-to-cut-their-output-of-crude-oil-to-reduce-the-supply.htm Questions and Answers Sat, 11 Feb 2012 00:01:47 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: The Dude @ Boston http://askalandman.com/opec-members-want-to-cut-their-output-of-crude-oil-to-reduce-the-supply.htm/comment-page-1#comment-8514 The Dude @ Boston Tue, 01 Jun 2010 14:53:53 +0000 http://askalandman.com/opec-members-want-to-cut-their-output-of-crude-oil-to-reduce-the-supply.htm#comment-8514 Demand is constant if not growing. The price of oil will rise if the oil is more scarce than previously. There is virtually no elasticity on oil. Demand is constant if not growing. The price of oil will rise if the oil is more scarce than previously.

There is virtually no elasticity on oil.

]]> By: Tsunami http://askalandman.com/opec-members-want-to-cut-their-output-of-crude-oil-to-reduce-the-supply.htm/comment-page-1#comment-8515 Tsunami Tue, 01 Jun 2010 14:53:53 +0000 http://askalandman.com/opec-members-want-to-cut-their-output-of-crude-oil-to-reduce-the-supply.htm#comment-8515 it will go higher and that is why we need to get out away from these horrible people. we need to use what we have and we have alot i guarantee you. it will go higher and that is why we need to get out away from these horrible people. we need to use what we have and we have alot i guarantee you.

]]> By: think.thought http://askalandman.com/opec-members-want-to-cut-their-output-of-crude-oil-to-reduce-the-supply.htm/comment-page-1#comment-8516 think.thought Tue, 01 Jun 2010 14:53:53 +0000 http://askalandman.com/opec-members-want-to-cut-their-output-of-crude-oil-to-reduce-the-supply.htm#comment-8516 Demand will increase obviously. Demand will increase obviously.

]]> By: econgal http://askalandman.com/opec-members-want-to-cut-their-output-of-crude-oil-to-reduce-the-supply.htm/comment-page-1#comment-8517 econgal Tue, 01 Jun 2010 14:53:53 +0000 http://askalandman.com/opec-members-want-to-cut-their-output-of-crude-oil-to-reduce-the-supply.htm#comment-8517 Demand will continue to grow because the increase in price from the reduced supply will raise price, but since gasoline is inelastic with respect to demand, consumption will not back off (quantity demanded will not drop significantly), plus there are so many factors at play which will increase the demand for gasoline regardless of price....like emerging economies such as China and India increasing the number of buyers for the product. Demand will continue to grow because the increase in price from the reduced supply will raise price, but since gasoline is inelastic with respect to demand, consumption will not back off (quantity demanded will not drop significantly), plus there are so many factors at play which will increase the demand for gasoline regardless of price….like emerging economies such as China and India increasing the number of buyers for the product.

]]>