

There is a concept in economics called price elasticity, which is how the market adjusts to changes in supply and demand. If there are more alternatives for the product or the product is a luxury, the price is usually considered “elastic” as people will stop using the good over paying more for it.
Oil is price inelastic. For a lot of equipment, there isn’t an immediate substitute for oil and people need oil to do a lot of important economic activities. So, if there is a reduction in supply, a lot of people will pay more money to make sure they get their oil, which drives up prices far more than the lack of supply would normally suggest.
That being said, goods are usually more price elastic in the long run. For instance, people might choose an electric car right now over a gas powered car because electric cars now are a lot cheaper in comparison for total use costs.


I wouldn’t take the use of AI alone as a sign of mental decline. The question for you should be is if this is the first time you’ve questioned his mental acuity or have you seen issues before and this is just the worst you’ve seen so far.