[aahala2]

I don't think this is a major confusion point, but I would like to
point out one reason it's difficult to exactly pin down numbers
and claims from the original article that started the thread.

The article was apparently an AP story first released a number
of hours ago(from my posting time). On the web, some sites
have direct feeds, the AP changes the wording, some details
and can alter the exact nature of the original claims over the
course of the day.

So even looking at the samed story three hours(or three
mintues) apart does not necessarily mean you are looking at
exactly the same story.

[frankthetank]

NEW YORK (Reuters) - U.S. retail gasoline demand so far this year is down 1.8 percent from the same time last year as higher gasoline prices continue to slow consumption, MasterCard Advisors said Tuesday.

"Again, this lower pumping in 2008 is most likely due to record high gasoline prices and a softer economic environment," said Michael McNamara, vice president of MasterCard Advisors.

Average retail gasoline prices were up 10 cents to $3.94 per gallon, setting a new record of almost 24 percent higher than they were at the same time last year, according to the MasterCard report.

Motorists pumped an average of 9.043 million barrels per day in the week that ended May 30, a 3.6 percent drop from the previous week and 4.7 percent below last year's level.

The four-week moving average for gasoline demand was negative for the 16th week in a row, dropping 6 percent from last year's levels.

The four-week moving average "continues to indicate that Americans are changing driving habits and consuming less gasoline," McNamara said.

http://uk.reuters.com/article/oilRpt/id ... 8620080603

[IslandCrow]

The article quoted three different percentages for year on year drop: 1,8% in the first paragraph. 4,7% on the week's amount and 6% from the 4-week moving average!

This sort of reporting is very poor, as it leaves me very confused as to what actually is happening. But at least all the figures point to demand destruction, just very uncertain about how much.

[Denny]

Just wondering, how does Mastercard know the volume of the fuel purchased? I am with Visa and my statement shows dollars, but not volume.

[KingM]

Just wondering, how does Mastercard know the volume of the fuel purchased? I am with Visa and my statement shows dollars, but not volume.

Because they know that X% of all gas purchases are with MC, and they know the average national price at any given time. Any moderately competent economist could coax gas usage from MC's records.

[TheDude]

The article quoted three different percentages for year on year drop: 1,8% in the first paragraph. 4,7% on the week's amount and 6% from the 4-week moving average!

This sort of reporting is very poor, as it leaves me very confused as to what actually is happening. But at least all the figures point to demand destruction, just very uncertain about how much.

Now throw in the EIA's figure of .4% decline for gasoline demand. Confused yet?

[Bottomfisher67]

This simple grassroots idea is all over the internet:

Saturday Gas Boycott
===============
1. If your address is even, don't drive on even dated Saturdays.
2. If your address is odd, don't drive on odd dated Saturdays.

What to do on Boycott Saturdays
=======================
1. Clean-up and organize your house/apartment
2. Have a family meeting, talk to your family and spouse.
3. Play games with the family.
4. Go on a really long walk and explore the area you live in.
5. Get on the phone and tell others what you are doing.

[dabear95]

Does your mommy know you are posting this junk?


-J

Edit - The original reply above was not written for the first post in this current thread.

[Farknight]

[web]http://www.bloomberg.com/apps/news?pid=20601087&sid=a8QLru4vOjx0&refer=worldwide[/web]

Looks like $4 a gallon has those Hummers and Escalades sitting in the garage near the RV. It shall be interesting to see how this demand decrease plays out in the overall economy. It certainly can't be good for an energy intensive society built around easy transport to conduct business.

[Peleg]

[web]http://www.bloomberg.com/apps/news?pid=20601087&sid=a8QLru4vOjx0&refer=worldwide[/web]

Looks like $4 a gallon has those Hummers and Escalades sitting in the garage near the RV. It shall be interesting to see how this demand decrease plays out in the overall economy. It certainly can't be good for an energy intensive society built around easy transport to conduct business.

You gotta love Yogi. A credit to the profession.

'That restaurant is always packed. That's why noone goes there anymore.'

Alot of folks are suprised that $4 turned out to be so influential. Empirically we have to take note. That said we do have the housing crisis, credit crunch, and we did max out our ability to refinance and use cards. We were encouraged after 9/11, told it was our patriotic duty to keep spending and borrowing, so we did. Now that bandaid has dried up and fallen off and the sore is now infected. If we had been at the 1998 time stage in the credit crisis, and not had these companies pandering to every false hope of the American public and depletion were giving us $4 I do not think we would see the same impact. The truth is that $4 does not touch everyone equally. But the masses mostly make below the median income, the distribution is not symmetric, so we have to come up with some relief or the low payed service sector is going to tank and that is the economy now that all the industrial jobs have been farmed out. We have not admitted to ourselves that service sector will always be bigger than manufacturing, which will always be bigger than information, as far as jobs go. You have to protect the foundation of the building or eventually the building crumbles.

[Armageddon]

Oil and gas is finally free, lol

[Armageddon]

Oil and gas is finally free, lol

awe crap, when I coppied this thing it said .01. That's one cent. That's what I get for trying to be funny. Now I look like an asshat.

[davep]

It was 0.01 when I looked.

Honest.



I guess it's not static. You should have taken a screenshot and put it on flickr or something.

[ROCKMAN]

I caught it else where Army. It was funny. And as long as you don't change your avatar you can be as big an asshat around here as you like.

[Armageddon]

I caught it else where Army. It was funny. And as long as you don't change your avatar you can be as big an asshat around here as you like.

Don't worry, she's not going anywhere. Here is another one for you

[KevO]

I caught it else where Army. It was funny. And as long as you don't change your avatar you can be as big an asshat around here as you like.

Don't worry, she's not going anywhere. Here is another one for you

err. How did you get photos of the missus and without my or her express permission?

[VMarcHart]

I caught it else where Army. It was funny. And as long as you don't change your avatar you can be as big an asshat around here as you like.

Don't worry, she's not going anywhere. Here is another one for you

What's her name?

[davep]

What's her name?

Elisha Cuthbert, according to the image.

Edit: I`ve googled. She's pert. NSFW

[KevO]

I caught it else where Army. It was funny. And as long as you don't change your avatar you can be as big an asshat around here as you like.

Don't worry, she's not going anywhere. Here is another one for you

What's her name?

Mrs KevO

[Cloud9]

Ah to be young again. Then again taking Viagra is like putting a new flag pole on a condemned building. Tim Conway