[acyou]

Nice, but maybe you need to travel more! The USA and Canada is not representative of the wider world. Also, demand elasticity in USA/Canada suburbs is again not representative.

So we're not proving or disproving anything by focusing on that narrow view. I can understand, if you are in it it seems universal, but as I like to reflect, You Are Not The Only User.

Also, I think demand elasticity is more relevant in the short term, I think the costs shake out eventually. Especially when you are talking about pipeline or major infrastructure level changes in capacity, that can have major regional pricing ramifications, shall we say extreme. I think I need not elaborate, given current events in the Persian Gulf.