Gasoline consumption in this country, as measured by retail deliveries from refineries to America's stations, has plummeted since he took office (you may want to click on the image to enlarge it):
Look close and you'll see two small dots to the lower right. They represent the most recent data.
The takeaway?
"Deliveries in November 2011 were 30.9 MGD, a staggering 47% decline."
What does that mean?
If we stipulate that vehicles and fuel consumption are essential proxies for the U.S. economy, then we can expect a steep decline in economic activity to register in other metrics within the next few months.My God.
Such a sharp drop would of course be "unexpected" given the positive employment data of the past few months. But as the data above shows, employment isn't tightly correlated to gasoline consumption: gasoline consumption reflects recession and growth.
In other words, look out below.
3 comments:
I guess this is why our Supreme Doofus, King Putt boasts that we have become a net exporter of gasoline. And, we thought it was because he was finally easing restrictions on production. Well, sorta.....
The official employment data is bunk. That's why it's not correlating. Remember, the unemployment rate measures those looking for work. 3 million people have dropped completely out of the work force and are not being counted any longer.
Um, the US exports more refined fuels than we use. It's the market, y'all. The market.
Post a Comment