Quote:
Originally Posted by Ronald Pagan
The evidence from Europe over the 90s and 2000s is that higher gas prices have, infact, led to less consumption.
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Could it have also been improving technology that contributes to less consumption? I don't think its right to say that higher prices led to less consumption without evaluating other factors at the same time that might have also reduced it, and at what percentage. A 10 to 20 year span can introduce a lot of changes.
You might have a better case if you used the reduction of gas subsidies in China as an example, but I haven't found any consumption numbers pre-and-post decrease.