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Posted By: alsetalokinAnd now the demand for gasoline will go down... so of course the cost will go up.Starting to see the bright side.
Posted By: alsetalokinAnd now the demand for gasoline will go down... so of course the cost will go up.
Posted By: alsetalokinNo, you've fallen for the main Myth of Econ 101, the "law of supply and demand." But the suppliers, too big to fail,
It's the "TTC" model. The Toronto Transit System found that ridership was dropping off, so in order to maintain their income they raised the cost of a ride. Several times over the course of my sojourn in Canada this happened. Pretty soon only the peoniest peons were riding the bus.
Posted By: BigOilRepPosted By: alsetalokinNo, you've fallen for the main Myth of Econ 101, the "law of supply and demand." But the suppliers, too big to fail,
Well, they are mainly nation states, such as Venezuela, who have clearly shown they are not "too big to fail". Saudi Arabia are already scrambling to diversify from oil as they know the writing is on the wall.
What might happen, is that the big boys actually push pricesdownas this makes the alternatives less cost effective.
It's the "TTC" model. The Toronto Transit System found that ridership was dropping off, so in order to maintain their income they raised the cost of a ride. Several times over the course of my sojourn in Canada this happened. Pretty soon only the peoniest peons were riding the bus.
That's a subsidised monopoly, so I'm not sure it has any equivalence. If it were privately organised, they would have just got rid of all the non-profitable routes - which the state couldn't do, so has to cover it with cost increases/subsidy reductions.