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.
Climate Denial Crock of the Week 