Natural Gas Fueled Flight Demonstrates Substitution Effect

Natural Gas Fueled Flight Demonstrates Substitution Effect

Earlier this week, Qatar Airways made history by operating the first ever commercial flight using a fuel partially derived from natural gas. The flight from London to Doha used a mixture of 50% conventional jet fuel and 50% synthetic kerosene made by converting natural gas to liquid form. Qatar is awash in natural gas and seeking ways to put this natural resource to good use. This situation is a very good example of the substitution effect in economics and worthy of discussion. Read this article for more details.

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