Econometrics without interventions is useless due to stuff like this. At least with instrumental variables for example you could tax the oil and see the real i

Econometrics without interventions is useless due to stuff like this. At least with instrumental variables for example you could tax the oil and see the real impact of less oil burned. https://en.wikipedia.org/wiki/Instrumental_variables_estimation https://en.wikipedia.org/wiki/Instrumental_variables_estimat...