Graph of the Day: Euro Gas Demand vs Industrial Production

October 4, 2022

EU industrial gas demand takes a nosedive (top), industrial output stable. (bottom).

The lesson we keep learning over and over – energy demand much more elastic with price than most conventional wisdom would indicate.

Tweeted by Leon Hirth, Prof at Hertie School of Business in Berlin.

Below, we first learned this lesson about price elasticity in the 70s.


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