Asked by mnarjann
did the arizona gaspipeline in 2003 was there a shift in the supply curve demand curve or both? Did the shift happen tothe left or to the right?
Your question is not a properly written sentence, but I will interpret it, as "When the Arizona gaspipeline ruptured in 2003, was there a shift in the supply curve demand curve or both? Did the shift happen to the left or to the right?
I assume you are referring to the rupture of a gasoline pipeline from Tucson to Phoenix in July-August 2003. Here is a news item about it:
<<HOUSTON, Aug 19 (Reuters) - Pipeline operator Kinder Morgan Energy Partners (nyse: KMP - news - people) on Tuesday said it would begin tests on an Arizona gasoline pipeline that ruptured nearly three weeks ago, sending prices in the Phoenix area spiraling above $2 a gallon.
If the tests are successful, the line, which ships fuel from Tucson to Phoenix, could be back in service by this weekend, Houston-based Kinder Morgan said in a statement.
The line ruptured on July 30. Drivers have been forced to wait in long lines and pay high prices as the gasoline shortage has grown more acute.>>
In answer to your question, gasoline supply went down and prices went up until demand was reduced to match supply. The rupture presumably did not affect the demand curve. At a given rice, much less gas was available for sale. Look at how supply curves are plotted and that should tell you if the curve moved to the left or right.
Your question is not a properly written sentence, but I will interpret it, as "When the Arizona gaspipeline ruptured in 2003, was there a shift in the supply curve demand curve or both? Did the shift happen to the left or to the right?
I assume you are referring to the rupture of a gasoline pipeline from Tucson to Phoenix in July-August 2003. Here is a news item about it:
<<HOUSTON, Aug 19 (Reuters) - Pipeline operator Kinder Morgan Energy Partners (nyse: KMP - news - people) on Tuesday said it would begin tests on an Arizona gasoline pipeline that ruptured nearly three weeks ago, sending prices in the Phoenix area spiraling above $2 a gallon.
If the tests are successful, the line, which ships fuel from Tucson to Phoenix, could be back in service by this weekend, Houston-based Kinder Morgan said in a statement.
The line ruptured on July 30. Drivers have been forced to wait in long lines and pay high prices as the gasoline shortage has grown more acute.>>
In answer to your question, gasoline supply went down and prices went up until demand was reduced to match supply. The rupture presumably did not affect the demand curve. At a given rice, much less gas was available for sale. Look at how supply curves are plotted and that should tell you if the curve moved to the left or right.
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