Originally Posted by Penguin
Originally Posted by 500grains
I cannot believe that so few people here understand the supply-demand curve.


Rest assured that many of us that disagree with you do indeed understand a supply/demand price graph. It is just that we understand other things such as inelastic demand and ..


If we have 726M barrels in strategic oil reserves and the US uses 18M/year, it looks like the gov is stilling on a great commodities investment. Much better than those foreign banks holding in reserve the majority of falling US cash.

"inelastic"?
I can calculate gun firing rate or power supply transient recovery time, but they don't have human emotion in the loop.
If gas is $100/gal, you will bike to work, even if it breaks down your elastic underwear.

There is nothing noble in being superior to your fellow man; true nobility is being superior to your former self. -Ernest Hemingway
The man who makes no mistakes does not usually make anything.-- Edward John Phelps