I have been under the impression that the supply side of oil is somewhat artificially manipulated. If it is intentionally constrained by the suppliers in order to target what they consider the most profitable price, then the effective supply is likely to be somewhat elastic if the actual supply becomes constricted.
On the other hand, as has been said revolutionaries are likely to want to get the oil infrastructure running again quickly.
With any luck, though, the instability, or potential instability, of the supply will encourage us to invest more in transitioning away from oil.
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Date: 2011-02-23 04:35 pm (UTC)On the other hand, as has been said revolutionaries are likely to want to get the oil infrastructure running again quickly.
With any luck, though, the instability, or potential instability, of the supply will encourage us to invest more in transitioning away from oil.