ARE WE SCREWED???

When shoes get too expensive, you skip them.
When steak prices spike, you buy chicken instead.
But when gas prices soar? You still fill up your tank.
You still need to get to work.
You still need to take the kids to school.
You still need to buy groceries.
You still need gas.
Rising prices don't reduce your demand because you don't have realistic alternatives in the short term.
This is inelastic demand: when price changes barely affect how much people buy.
It's why oil companies, utility providers, and pharmaceutical companies have such pricing power.
These aren't luxuries you can walk away from.
They're necessities baked into how we live.
And it's why price shocks in these sectors hurt consumers so hard.
We can't just opt out.