Middle East Economic Survey


No 46


Price Determines Demand

By William R Edwards

The following article was written for MEES by Mr Edwards, who is President of Edwards Energy Consultants, Katy, Texas (wre@texven.com).

Enough time has elapsed and enough data has been gathered to allow the construction of a valid curve displaying the price level of crude oil and the resulting demand growth in the United States. Over the past 20 years the price of crude has fluctuated over a...