Heavy Lifting - thoughts and web finds by an economist
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Thursday, August 11, 2005
This is a map of the different types of gasolines in the United States. Is it any wonder why it is nearly impossible for the gasoline market to adjust the quantity of gasoline when there is a disequilibrium between supply and demand? Because gasoline cannot be trucked from Oklahoma to Chicago, the only way the market can adjust to realign quantity supplied and quantity demanded is through price.
The price we pay for clean air?
(from this article)
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