[On the Road to Serfdom]

Actually, inventory of gas held by stations might increase but not the "supply" as in "simple economics".

The statement should have been: "If the demand goes down, the [inventory] will increase [in the short run]and the price will go down [in the short run, but will go back to normal in the long run as businesses leave the industry and supply DECREASES]"

So actually the shift in supply is opposite what was stated.

[Behind Liberal Lines]

I actually think you two are in agreement with your correction or clarification to MY post.

Which I must concede.

In any event, I think we ALL agree that this email is not going to do one whit of good.

[Phantom Lord]

You are right, in this discussion "supply" and "inventory" are not one in the same, though I used the term supply as if it were the same as inventory.