In the long run, the best estimate of the price elasticity of demand for auto fuel seems to be -0.7. That is, a 10 percent rise in prices will reduce gas consumption by 7 percent. Of this, 4 points come from shifting to cars with better mileage, 3 points from driving less.
Energy Tribune- Is It Really The Warmest Ever?Despite claims to the contrary, in recent years, global temperatures stopped warming. Even Phil Jones of the UK Climate Research Unit after Climategate admitted there has been no statistically significant warming since 1995 (15 years) and between 2002 and 2009, the global temperatures had declined 0.12C (0.22F).
BBC News - Q&A: Professor Phil JonesB - Do you agree that from 1995 to the present there has been no statistically-significant global warming?Yes, but only just. I also calculated the trend for the period 1995 to 2009. This trend (0.12C per decade) is positive, but not significant at the 95% significance level. The positive trend is quite close to the significance level. Achieving statistical significance in scientific terms is much more likely for longer periods, and much less likely for shorter periods. C - Do you agree that from January 2002 to the present there has been statistically significant global cooling?No. This period is even shorter than 1995-2009. The trend this time is negative (-0.12C per decade), but this trend is not statistically significant.
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