The oil industry today in regard to the automotive market is inelastic in demand. The demand is the same no matter the price due to the need we have on gasoline. The demand for alternative energy, such as ethanol and bio fuels has and will continue to grow. The negative effects of what fossil fuels do the environment and the price of oil causes more people to looking for less costing energy and safer fuels to the environment... displayed 300 characters
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The oil industry today in regard to the automotive market is inelastic in demand. The demand is the same no matter the price due to the need we have on gasoline. The demand for alternative energy, such as ethanol and bio fuels has and will continue to grow. The negative effects of what fossil fuels do the environment and the price of oil causes more people to looking for less costing energy and safer fuels to the environment... displayed 300 characters
