Producers in some oil fields are burning natural gas or having to pay "buyers" to take it off their hands (WSJ, Jan. 2020). These actions show that something can be scarce in one location or time and not scarce elsewhere. Here are some questions.
- Would natural gas be scarce in the Waha hub if pipelines to the area for natural gas had excess capacity?
- Is transportation of natural gas from the Waha hub scarce?
- Is natural gas scarce in RVA? What tells you whether the answer is "yes" or "no".
- Why might bitcoin miners locate in the Waha hub?
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