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Old 05-07-2018, 02:29 PM   #142 (permalink)
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Originally Posted by slowmover View Post
Gas demand is inelastic due to the geography of housing, marriage pattern; and work locations.
Not so. There's a fairly firm short-term* base demand from those things, but on top of that there's a large recreational demand. Take a 500 mile road trip, go "camping" in your 40 ft RV, run your ORVs, power boats, and all the other gas-using toys? No one has to do those things.

*Which is elastic over the long term.
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