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Gasoline use is just a small fraction of the demand for oil, most of it has other uses, and those aren't as flexible on demand as fuel for cars. I'd be willing
by mikewarot 3y ago
Gasoline use is just a small fraction of the demand for oil, most of it has other uses, and those aren't as flexible on demand as fuel for cars. I'd be willing to bet that they'd start flaring it off if demand collapsed, just to keep the refineries going.
Fertilizer is a major sink of petrochemicals, and there really aren't any substitutes available on a large enough scale.
- acdha 3y agoYes, I’m aware - you’ll note I also mentioned home heating, which is usually oil or gas. That doesn’t in any way change the fact that raising the price would both give people the right economic incentives to use less and provide funds to assist with capital outlays that might require. That would among other things be great for letting us conserve usage for things which are hard to make from other sources. That’s a much better use of a limited resource than someone insecure driving a multi-ton vehicle to pick up a hamburger because it’s been subsidized to seem cheaper.