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RE: Long Advised WTI $71.870
There are alternatives:
Natural gas, electric energy that can be produced from fuels that are produced from biologic sources or from conversion of solar or hydroelectric or geothermic or nuclear energy.
Reduction of consumption is another reaction to taxation.
For example I have no car, due to its purchase+taxation+insurance+benzine+repairs costs.
The higher taxation will be, the more people will respond the way I do.
And even if it was true, that gasoline has no replacement and people had no choice but to buy it, taxation on it would not have pushed its prices before taxation higher.
In fact, even then it would have applied a downward pressure on its price, due to the universal deflationary effect of taxation.
not that there is no replacement just that replcing current world industries would take more than 20 years with solar and wind https://www.greentechmedia.com/articles/read/grantham-wind-solar-to-replace-fossil-fuels-within-decades
also the taxation on gasoline and crude oil are different
even if every average person were to stop using fossil fuels construction and production industries will use the same if not more if there are less cars on the roads industries will be incentivized to setup with easier road transport
also its not feasible for everyone to not use a car as most countries have poor public transportation and will be a necessity to families
Again.
Even if there was no replacement, and there is, and I already showed you other replacement than just solar and wind, people can still reduce their consumption.
And even if they could not, the prices that are traded are prices before taxation, and not prices after taxation.
Certain taxations can raise the price of a "crude" or refined commodity, but not in this case, and every tax has a net deflationary effect, due to reduction of the amount of maoney that does not belong to the issuer of the taxed currency.
yes everyone can reduce but how much of a % of Oil is used by consumers vs production industries construction etc
not to mention the amount of carbon that will be created by changing the world to solar and wind energy
life cycle emissions are vastly lower but the carbon footprint to produce and manufacture is significant and i would imagine the transportation of materials alone to far exceed what total consumers use
Production, industries and construction are consumers too.
They can become more efficient and try to use alternatives too.
And I already replied to you about the effect of taxation in a case of no alternative and no ability to reduce consumption that is not even the case of reality.
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