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No, there is a thing called the market price which does that for us. When oil reaches $300 per barrel, demand will drop substantially. When it reaches $1,000
by valuearb 9y ago
No, there is a thing called the market price which does that for us.
When oil reaches $300 per barrel, demand will drop substantially. When it reaches $1,000 a barrel, demand will be drop to only a tiny fraction.
As prices rise, complements get more attractive. Other sources of energy, from solar, wind, to nuclear become far more attractive.
And that’s without inventing new complements. Which will happen, and likely be as cheap or cheaper than oil ever was.