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The article explains the relationship between oil production and prices and the expectations of consumers and suppliers by addressing the pricing of gas and oil
The article explains the relationship between oil production and prices and the expectations of consumers and suppliers by addressing the pricing of gas and oil from a chronological perspective. It first talks about how oil at first was very limited, and now that it has grown in production over the years, it has become less scarce from a consumer perspective. In addition, external factors have helped contributed to changes in the pricing of oil such as the current state of the Middle East and China's economy. Outside factors do tend to play a role in demand because this can shift the consumer's attitude and perspective, despite the need for it. Furthermore, another point mentioned in the article is seeing what the future is and the limits are for technology. As it is definitely more relevant right now, electric cars are slowing becoming the number one option for automobile consumers. This will effect the oil market by the demand and expectations slowly deteriorating, as consumers are realizing that oil for gasoline will not be considered with an electric car. your response to this
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