> Mail (physical means of communicating in writing and print) and email (connecting two people with digital signal) are similar but not a great comparison when

> Mail (physical means of communicating in writing and print) and email (connecting two people with digital signal) are similar but not a great comparison when comparing consumption of natural gas. What? You are missing the point. We're talking about "markets" not the specific "tech/substitutes." It could be any technology disruption. Such disruption doesn't mean the prior status quo IN THE MARKET was inefficient. The tech shock just resets equilibrium. Further, your explanation is circular, and I propose it has to do with muddling terminology and concepts. Here's one inconsistency. Either the markets didn't exist (You said they need to be "created."), or they did exist, but a pipeline connecting them was too expensive. > Technology literally created additional markets > it would have been possible to pipeline gas from AU to markets across the ocean, but it didn’t make economic sense