Masanet and Walker (2013) investigate in detail the opportunities for reducing steam requirements - which has the great advantage of also reducing energy requirements (since energy is required to convert water to steam) - in the major steam-using sectors of the manufacturing economy: chemicals, paper, petroleum refining and food production. They find ample opportunities for harvesting ‘low-hanging fruit" and significantly reducing energy and water usage in these sectors through more efficient use of steam in manufacturing. The approach to demand analysis in the case of industrial use is often through mathematical programming of the industrial operation (Griffin 2006). Such studies may or may not report the implied price elasticity of demand.