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Posted on 05/30/2014 5:12:26 PM PDT by Nachum
Regular readers are familiar with my narratives on the U.S. Greater Depression, and (in particular) some of the government’s own charts which depict this economic meltdown most vividly. The collapse in the “civilian participation rate” (the number of people working in the economy) and the “velocity of money” (the heartbeat of the economy) indicate an economy which is not merely in decline, but rather is being sucked downward in a terminal (and accelerating) death-spiral.
However, even that previously published data, and the grim analyses which accompanied it could not prepare me for the horror story contained in data passed along by an alert reader. U.S. “gasoline consumption” – as measured by the U.S. Energy Information Administration (EIA) itself – has plummeted by nearly 75%, from its all-time peak in July of 1998. A near-75% collapse in U.S. gasoline consumption has occurred in little more than 15 years.
Before getting into an analysis of the repercussions of this data, however, it’s necessary to properly qualify the data. Obviously, even in the most-nightmarish economic Armageddon, a (relatively short-term) 75% collapse in gasoline consumption is simply not possible. Unless we were dealing with a nation whose economy had been suddenly ripped apart by civil war, or some small nation devastated by a massive earthquake or tsunami; it’s simply not possible for any economy to just disintegrate that rapidly, without there being some ultra-powerful exogenous force also at work.
(Excerpt) Read more at zerohedge.com ...
Why isn’t traffic getting any better?
“Unless you get some super mileage with diesel (I wouldn’t know), the price per gallon around here is much higher then gas.”
The same model of vehicle I drive with the gasoline engine option would be getting mileage per gallon in the single digit range (8ish or so). Same gearing ratio on my axle, same transmission, same tires, same driving and hualing/towing habits, I get 20 mpg on diesel.
Diesel is ungodly expensive, but not 2.5 times as expensive.
Look at some of the Euro/Can TDI vehicles, if you’re really interested in mileage a diesel Jetta or similar would get you 40 to 50 mpg.
No problem with gas consumption around here. The idiots keep flying up and down the road like hell on fire, and taking off from the 3-way stop on my corner like its a dragstrip (that is, IF they bother to stop).
I agree with you. The economy sucks, but that figure has got to be bogus.
Zero Hedge is full of it.
“How much gasoline does the United States consume?
In 2013, about 134.51 billion gallons1 (or 3.20 billion barrels) of gasoline were consumed2 in the United States, a daily average of about 368.51 million gallons (or 8.77 million barrels). This was about 6% less than the record high of about 142.35 billion gallons (or 3.39 billion barrels) consumed in 2007.
1There are 42 U.S. gallons in a barrel.”
http://www.eia.gov/tools/faqs/faq.cfm?id=23&t=10
And here is a graph
http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=mgfupus1&f=a
Interesting, I wonder what the mix is for such reduction. More efficient cars, global warming believers actually changing their lifestyles, diesels and hybrids, and people staying home rather than working.
$3.54 a gallon today in Metro Atlanta. What did they think would happen?
My understanding is that’s the plan. Barry and company don’t want us driving around polluting the country don’t ya know.
Sounds like the point of the article is that the gov cooks the books.
Oil companies have been selling off their retail operations, so fewer refiners sell retail. That's all. There is nothing more to it than that. False alarm, folks.
If demand for gasoline is down, why am I paying record high prices? Riddle me that!
Gasoline yesterday: $3.83/Gallon.
Gasoline today: $4.09/Gallon.
No explanation, nothing. Just because they can I guess.
Actually $3.60 a gallon (what I am paying) is not all that bad. I am surprised it is not worse given people like Obama are running the show. Gasoline price levels when measured against inflation are about what they were in the late 1970s and even as far back as 1918. We had a gravy train running during the 1980s and 1990s when prices were real low. Everyone got spoiled. Then prices spiked back up again due to bad energy policies and no help from Republicans. I am surprised it is not worse and gasoline prices have fared better than just about anything else when viewed over a long period. If we had conservatives running the country prices and aggressive drilling then prices would be much lower.
http://inflationdata.com/inflation/images/charts/Oil/Gasoline_inflation_chart.htm
Well, according to Zero Hedge, no new cars are being sold. They’re being dismantled and recycled after being shipped thousands of miles. So all that gas they’re not using has to be accounted for somewhere.
Ya can’t make this stuff up!
Check out the link in #20. There seems to be a contradiction. Unfortunately I can’t follow up on this right now.
You have delivered the obvious crushing blow to this bogus story.
The number of motor vehicles in the US in
1998: 208 million
2012: 254 million
I read that site. as others do, for some of its astute comments, few and far between. Its editorial content is, let's say, entertaining.
Sounds like at least one person read the article.
There’s lots of money to be made in exporting it.
It’s not—this article is complete BS!
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