Gasoline Demand Continues to Fall
Submitted by
CalculatedRisk on Wed, 09/14/2005 - 9:16am (12 comments)
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Just so that you do not feel always appreciated, know that I am quite worried about the economy. Between living off the appreciation of housing and an oil shock on several years of rising oil prices, even the stimulus of spending from the energy and highway and hurricane recovery bills may be questionable in impact. And, short term interest rates will be raised again. So, I am most cautious.
I do appreciate you, and your lovely commentators.
potential typo alert - 8.636
The graph seems to show over 8.9 - perhaps you meant to type 8.936? Or is the graph wrong?
Oh, I get it - the last data point is the previous week, and the 8.636 isn't yet on the graph. How brick-like of me....
From the graph, it looks like the virile US got a little impotent lately, huh
This graph is consistent with a nation with a zero savings rate and can't reach any deeper into their pockets for frivolous gas expenses.
Maybe this shows that we've "hit the wall."
Maybe not.
Just tossing that out there.
fatbear, I lifted the graph from the DOE (added link to the post). The graph is a 4-week moving average, and the numbers I mentioned were weekly.
Sorry for the confusion. Usually I'd just look at the 4-week average, but its only been 2 weeks since the hurricane.
On a side note, I didn't see any bears in Yellowstone - I've seen some really "fatbears" in Yosemite! I was disappointed until I read about the bear attack in Glacier Natl Park.
Best Regards.
We fatbears abhor the wilderness - too much gnashing of teeth and such like - just like to stay here and loll around the cozy environs of the Village.
btw, I was happy to read that the 1988 burn is healing - when we went through in 1995 the devastation was still disquieting.
Oh, I get it - the last data point is the previous week, and the 8.636 isn't yet on the graph. How brick-like of me....
Or is that "pervious" week?
the market always wins. same will happen with the housing bubble.
CR- we used to camp out with the kids in Glacier, until one time when we had a "scary bear night" in the tent. Once I fully realized that there was only a few millimeters of nylon between us and a bear, with only a little buck-knife to protect us, we stopped camping altogether. (Nothing happened, BTW, just a scare, and a night 'sleeping' in the car.)
When we were there though, another hiker was attacked- tore the backpack off an 8 year-old kid.
I have a lot more respect for the wilderness now. It's Motel 6 for me now!
My BIL had a pack pulled out from under his head (he was using it as a pillow) up in Denali. Way above the tree line so unable 'tree' his pack safely...
Another time he had a mother and a cub follow him all day in an alpine meadow in Denali... He didn't sleep too well that night with them sitting on a ridge watching him...
In both cases they were grizzlies...
He has had at least a half dozen bear encounters... I think they are his 'spirit creature'.
So US consumers do make rational decisions based on the price of gasoline. Considering how difficult it is to change gasoline consumption within a short time frame, I would think demand would decrease even further if prices remain high. I read in the WSJ that car dealers were now giving better than employee pricing deals to get rid of trucks and SUVs.