Day: October 10, 2023

Close your eyes and imagine the elimination of gasoline-powered automobiles. Among people who believe in a quick transition away from gasoline to electric vehicles, they conveniently overlook the second-order effects, one of which is what might happen to the price of electricity with such an increase in demand. Is there a magician out there who can create the electricity needed to replace the gasoline we use today? Let’s sit in on a good first-year economics class to see how supply and demand are adding up. […]