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[sebastian_dangerfield]

Originally posted by ltl/fb
Refinieries are still running pretty much full-out, right?

Not in Russia. Putin's been manipulating the price for a long time. Nor is Iran running at full bore. I think the Saudis are, however. And, of course, Iraq is not.

No idea about Venezuela.

[ltl/fb]

Originally posted by sebastian_dangerfield
Not in Russia. Putin's been manipulating the price for a long time. Nor is Iran running at full bore. I think the Saudis are, however. And, of course, Iraq is not.

Refineries. Refineries. Not wells.

[Mmmm, Burger (C.J.)]

Originally posted by Tyrone Slothrop
I'm not saying that there's no redistribution involved at all, but I don't think that's where the biggest action is.

Where is the action, then?

[Mmmm, Burger (C.J.)]

Originally posted by ltl/fb
Refinieries are still running pretty much full-out, right?

If not, they're crazy not to. Presumably because they're repairing stuff that they blew up.

[Tyrone Slothrop]

Originally posted by ltl/fb
Refinieries are still running pretty much full-out, right?

Demand for gasoline is pretty inelastic, but it's always someone else's fault that prices go up.

[Mmmm, Burger (C.J.)]

Originally posted by ltl/fb
Refineries. Refineries. Not wells.

right

[Tyrone Slothrop]

Originally posted by Mmmm, Burger (C.J.)
Where is the action, then?

On another thread, or it's about to be.

[Not Bob]

Originally posted by Hank Chinaski
do you know people who are driving less right now? i don't. i did get a more fuel efficient car than i had previosly, but i'm not going back because they dropped gas taxes for a month.

Good question. Most people in the US commute to work by car, so I don't think that there can really be much of a drop off. I wonder what the division is between commuting and recreational (or whatever you would call it) driving.

At any rate, I am pretty sure that the inelasticity of the demand for gas (oooh, am I saying that right, Burger? It's been a while since Econ 101) is a significant part of what led to the influx of more fuel efficient imports in the 1970s. As well as the creation of the Mustang II (". . . boredom zero!"), the Vega, and the Pacer.

What's a good liberal to do? I hired an unemployed illegal immigrant (she has papers, don't worry) to pull me around Podunkville in a rickshaw. Win win win.