VMarcHart wrote:What's her name?Armageddon wrote:Don't worry, she's not going anywhere. Here is another one for youROCKMAN wrote: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.
shortonsense wrote:NOW WE'RE TALKING.
We need more of this, less of some of these silly theories people keep coming up with. Peak Oil Causes Price Crash! I don't remember anyone claiming THIS sort of stuff 6 months ago when all the cheerleading was going on.
BRING ON THE CHIC PICS!
KevO wrote:VMarcHart wrote:What's her name?Armageddon wrote:Don't worry, she's not going anywhere. Here is another one for youROCKMAN wrote: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.
Mrs KevO
lorenzo wrote:
So this forum is finally becoming the ordinary porn hub many of us predicted it to become.
The oil market has been undergoing dramatic changes since record prices back in July. Let's get straight to the pocketbook. The U.S. average for a gallon of unleaded is around $1.68 according to AAA. That's a whopping 59% off the national average record of $4.11 a gallon in mid July, when peak-oil theorists were signaling a genuine end of the crude barrel.
As my guest, investor and Infectious Greed blogger Paul Kedrosky notes, domestic fuel consumption has risen with consumers apparently taking advantage of cheaper prices, according to the latest MasterCard Spending Pulse report. So why haven't global oil prices followed the trend?
Percentage rise or fall in US oil consumption ("product supplied") from year earlier period, 2008, 4-week average
Source
Week = Week ending
TPS = Total Product Supplied
G = Gasoline
D = Distillates
J = Jet fuel
Week____TPS____G____D____J__
1/4______+2.6___+0.4___+4.9___-3.1
1/11_____+2.2___+1.2___+2.1___-3.3
1/18_____+1.5___+1.1___+0.3___-4.0
1/25_____+1.1___+1.4___-0.4___-4.8
2/1______+0.3___+1.0___-0.7___-4.3
2/8______-1.0___+0.4___-2.8___-5.1
2/15_____-1.1___+0.5___-1.9___-3.4
2/22 ____-2.4___+0.4___-3.5___-3.7
2/29_____-3.4___+0.4___-4.4___-4.6
3/7______-2.7___+0.4___-4.2___-0.4
3/14_____-3.2___-0.1___-5.4___-0.2
3/21_____-2.2___-0.3___-4.0___+1.6
3/28_____-1.3____0.0___-3.1___+3.7
4/4______-0.4___+0.3____0.0___-0.4
4/11_____+0.1___+0.8___-0.9___-3.0
4/18_____+0.8___+0.9___+0.5___-1.3
4/25_____+0.5___+0.4___+0.7___-4.2
5/2______+0.1___+0.3___-0.5___-5.8
5/9 _____-0.3___-0.2___+0.8___-5.3
5/16_____-1.3___-0.4___+0.7___-5.6
5/23_____-0.7___-0.4___+1.2___-2.9
5/30_____-1.1___-1.4___+1.6___+0.3
6/6______-1.3___-1.3___+0.7___+0.4
6/13_____-1.3___-1.8___-0.4___-1.9
6/20_____-2.3___-2.1___-1.1___-3.6
6/27_____-1.9___-1.7___-0.5___-3.5
7/4______-1.8___-2.1___+1.3___-2.2
7/11_____-2.0___-2.1___+2.5___-0.5
7/18_____-2.1___-2.4___+3.6___-2.5
7/25_____-2.4___-2.4___+4.0___-6.8
8/1______-2.6___-2.3___+3.5___-7.1
8/8______-2.8___-1.9___+4.3___-8.5
8/15_____-3.0___-1.6___+3.3___-6.2
8/22_____-3.6___-1.6___+2.2___-6.9
8/29_____-3.5___-1.6___+2.7___-9.3
9/5______-3.8___-2.1___-0.4____-7.6
9/12_____-4.4___-2.6___-2.7____-7.6
9/19_____-5.3___-3.5___-5.5____-4.5
9/26_____-7.1___-4.5___-8.4____-1.5
10/3_____-8.6___-5.3___-8.3____-5.5
10/10____-8.9___-5.2___-6.9____-6.4
10/17____-8.5___-4.3___-5.8____-9.2
10/24____-7.8___-3.4___-5.2____-13.1
10/31____-6.7___-2.3___-4.8____-15.9
11/7_____-6.6___-1.9___-4.6____-18.8
11/14____-7.0___-2.2___-3.3____-20.3
11/21____-6.6___-2.8___-2.2____-17.7
11/28____-6.2___-3.2___-2.2____-16.7
12/5_____-6.1___-3.2___-4.0____-16.8
Gasoline demand edged up almost 1% last week from the previous week, according to a U.S. Energy Department report Wednesday. It was still 3.6% lower than last year, according to weekly data, but the drop was less severe than the average year-over-year declines of 3.8% in October and 4.2% in September.
Another indicator, the SpendingPulse data based on gasoline-station purchases compiled by MasterCard Advisors, showed that consumers pumped 0.3% more gasoline last week than in the same period last year, the first time that has happened since April.
The improvement, though, is minimal considering the dramatic drop-off in gasoline prices. The national average price for a regular gallon has collapsed by almost 60%, to $1.68 a regular gallon Wednesday from a peak of $4.11 a gallon in July, according to data from the auto group AAA.
"You would expect to see a huge increase in demand," said Doug MacIntyre, an energy analyst with the U.S. Energy Information Administration. "The reason you don't see it is simply the economy."
OilFinder2 wrote:SpendingPulse only tracks purchases made via MasterCards. With prices going down, more people are likely paying for their gas with cash rather than credit cards. So that report doesn't capture all the data.
TWilliam wrote:I can't help but wonder if the increase in use of credit cards for gasoline over the last few months . . .
TWilliam wrote:. . . might not in fact be a knock-on effect of rising unemployment. Less cash in pocket, so falling back to the plastic, along with an actual increase in driving as people look for work in addition to their usual household travel...
OilFinder2 wrote:TWilliam wrote:I can't help but wonder if the increase in use of credit cards for gasoline over the last few months . . .
How do you know there is an increase in the use of credit cards for gasoline purchase in the last few months?
SpendingPulse reports on national retail sales and is based on aggregate sales activity in the MasterCard payments network, coupled with estimates for all other payment forms, including cash and check.
Additionally, the bulk of a job search these days is done from one's home computer via the internet, not by driving around to place after place. So the likelihood is that unemployed people, on average, will do less driving, not more, than when they were employed.
OilFinder2 wrote:Well unless you've got actual data from Visa and American Express, then it remains just a "deductive reasoning." And as rockdoc123 mentioned above, a lot of gasoline consumption is tied to industrial usage, so making inferences about vehicular gasoline consumption based on data from *just* MasterCard purchases in combination with *all* data from the EIA is a bit tricky.
Return to Open Topic Discussion
Users browsing this forum: No registered users and 14 guests