The Phaserl


U.S. Gasoline Consumption Plummets By Nearly 75%

by Douglas Davenport, ETF Daily News:

Jeff Nielson: Regular readers are familiar with my narratives on the U.S. Greater Depression, and (in particular) some of the government’s own charts which depict this economic meltdown most vividly. The collapse in the “civilian participation rate” (the number of people working in the economy) and the “velocity of money” (the heartbeat of the economy) indicate an economy which is not merely in decline, but rather is being sucked downward in a terminal (and accelerating) death-spiral.

However, even that previously published data, and the grim analyses which accompanied it could not prepare me for the horror story contained in data passed along by an alert reader. U.S. “gasoline consumption” – as measured by the U.S. Energy Information Administration (EIA) itself – has plummeted by nearly 75%, from its all-time peak in July of 1998. A near-75% collapse in U.S. gasoline consumption has occurred in little more than 15 years.

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3 comments to U.S. Gasoline Consumption Plummets By Nearly 75%

  • Rodster

    It’s been plummeting for several reasons

    1) Bad economy, lack of jobs, high debt levels
    2) High gas prices
    3) Obamacare is already having it’s effect on discretionary spending
    4) People are just plain tapped out
    5) The middle class is all but extinct. They tend to spend the most.
    6) Consumers are switching to online purchasing like Amazon, Best Buy, the same way email has hurt the US Postal service.

    I’ve been noticing just in my area that mall traffic is way down. Big box store traffic is also way down.

  • NaySayer

    The news now reports that movie ticket sales over the memorial day weekend were down 28% and they just don’t understand why.

    Ummm. Wake up, elite. It is called a depression. Life is good for the 1% all over the globe but everybody else is getting hammered economically.

  • Eric B

    I found out about the bad economy in recent months. I bought a 1998 Jeep Wrangler to ” flip ” these are usually a very quick sell I bought it right put a few bucks into fixing it the advertised it and waited……and waited……and waited…..tons of BS calls but no money ever showed up…..finally bailed out of it at a 5% profit….would have been 10-15% easy last year. Just took a short break from the daily grind with my wife….went to the ” Red Neck Rivera ” of our state Nor-Cal…..saw far fewer boats on the lake…..more businesses closed down…..reduced car count at the circle track races…..this economy is SCREWED!

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