While demand drives supply, it should also be kept in mind that there are two measures of prosperity - one being overall supply and the other median supply. As long as the overall supply keeps increasing, the nations can maintain themselves, yes. The other, median supply - that determines on the ground prosperity of the median citizen.
In the west, is the median supply of coal/oil (aggregated consumption for producing the final goods) increasing year by year?
Continuing on this thread, I can speak about my own country (India). Here, the states have a great autonomy (on electricity pricing, say).
I have lived in Gujarat, where the electricity supply is set by demand. The prices are costlier, and without a doubt, people have been priced out. But the electricity grid is stable (no intermittency)
In home state Telengana, electricity pricing is by slab (those who consume less, are charged at a cheap rate, those who consume more, are charged at a higher rate). The electricity grid is unstable (intermittency), the market is not efficient, there are tricks by which the wealthy can get charged at the cheapest slab.
Hi,
While demand drives supply, it should also be kept in mind that there are two measures of prosperity - one being overall supply and the other median supply. As long as the overall supply keeps increasing, the nations can maintain themselves, yes. The other, median supply - that determines on the ground prosperity of the median citizen.
In the west, is the median supply of coal/oil (aggregated consumption for producing the final goods) increasing year by year?
Continuing on this thread, I can speak about my own country (India). Here, the states have a great autonomy (on electricity pricing, say).
I have lived in Gujarat, where the electricity supply is set by demand. The prices are costlier, and without a doubt, people have been priced out. But the electricity grid is stable (no intermittency)
In home state Telengana, electricity pricing is by slab (those who consume less, are charged at a cheap rate, those who consume more, are charged at a higher rate). The electricity grid is unstable (intermittency), the market is not efficient, there are tricks by which the wealthy can get charged at the cheapest slab.
Former reader of The Oil Drum?