00:01
So the first thing i see here is how did these events affect the market? so the first thing i want to do before i do anything else is draw a market, right? and a market is a relationship between quantity and price.
00:11
That's the definition of a market.
00:13
It's got a demand curve and a supply curve.
00:16
Remember that the demand curve represents the buyers of the product, and the sellers are usually firms that supply the product.
00:25
So we have two stories here.
00:26
And the first story here is we have this pipe.
00:30
Disruption.
00:32
Oops, sorry, i spelled that wrong.
00:34
We have a pipeline problem.
00:37
So what does that do? to me, this reduces supply, right? with fewer pipelines and less infrastructure, that means that we can't supply as much natural gas to the market, right? the gas cannot be supplied because we're missing this infrastructure...