Another Plunge in 3-Month Rolling Average of Petroleum and Gasoline Usage

Townhall.com ^ | March 11, 2012 | Mike Shedlock

[Kaslin]

he following chart shows U.S. petroleum and gasoline usage for December-February compared with the same three months in prior years. Chart is courtesy of reader Tim Wallace.

Note that petroleum usage is back to December 1995 thru February 1996 levels. Gasoline usage is back to December 2001 thru February 2002 levels.

All data derived directly from the Data 10 section of the EIA download.

The daily average of each week in the listed month adds to the monthly total. Some months have four weeks others five, but over three months this tends to average out.

click on chart for sharper image

Contrary to popular belief, the decline in gasoline usage has little or nothing to do with cash-for clunkers or improved gas mileage in cars unless one fantasizes that gas mileage improvements started precisely in 2007.

Wallace comments "If this trend lasts for the rest of the year, Obama's stated goal of a 15% reduction in greenhouse gases based off 2005 numbers may be met this year instead of his 2015 goal."

Should that happen, I wonder how many will be happy with the economic result.

[X-spurt]

No, its your theory, show us the evidence of its validity.

Do you also think bullets are slower in the winter? They too have to overcome ambient temperature to generate chamber pressure to expell the round.

[Alberta's Child]

Well, not exactly. Refined petroleum products (not crude oil) were the #1 export from the U.S. in 2011. These products would include things like gasoline, aviation fuel and kerosene.

The U.S. is still very much a net importer of crude oil.

[FreeAtlanta]

Decreased usage seems to show the lie in the press and Obama's the economy is improving mantra.

Gas prices are still going up, even with decreased usage, because

• Gas executives are either making the same mistake that big taxing Democrats make that by raising prices or taxes, they can increase or maintain revenue while usage (or, taxable incomes) drop, or
• they are tired of Obama and the destructive democrats and are raising prices to help drive him out in the fall. It might be a combination of both or neither.

[FreeAtlanta]

How do we protect ourselves from the drilled out gas tank?

It is becoming more common. Someone should make do it yourself patches so that the whole tanks don't have to be replaced.

[FreeAtlanta]

[central_va]

when does the law of supply & demand kick in?.....storage facilities have to be drowning in oil

THe excess is being shipped to China as refined product. This isn't your dads dollar.

[Smokin' Joe]

Truck traffic has booomed around here, but that is tied in with the oil industry. Crude haulers, water and fuel haulers, frac pumpers, haul trucks for rig moves...one in three vehicles on the highway here is a semi.

[Nik Naym]

To be fair, I think that was Nixon.

[Smokin' Joe]

Ribbon epoxy (blue and yellow strips together). Knead it until it is a uniform green and press it into the hole. Great stuff, but a temporary fix. Self tapping screws have been known to work as well.

[Enterprise]

There are any number of excuses that are being made for the high price of gas, but you list is the best I have seen in a long time. I’ll copy it - it’s that GOOD!!

[UCANSEE2]

I've got a 2007 Cadillac CTS (not that I'll ever buy another GM product again in my life)that has no lock. Anybody could open it from the outside.

True, but it will do them no good.

Due to the gas 'theft' problem, all car manufacturers started putting 'screens' in the gasoline tank filler hose. This prevents anyone from siphoning gas out of the tank. No need for locking caps.

[Wissa]

Do you also think bullets are slower in the winter?

You can go ahead and believe that snipers don't take air temperature into account if you wish. Stick with your "feelings" about how the world works if that makes you comfortable.

[X-spurt]

Don’t try to change the subject. Can you or can you not respond to my posting “No, its your theory, show us the evidence of its validity.”?