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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: isopatch who wrote (184151)	5/31/2014 3:07:26 PM
From: Keith J	1 Recommendation Recommended By Salt'n'Peppa Read Replies (1) \| Respond to of 206198

What a bunch of baloney (regarding the 75% collapse), and horrible reporting. From the article: <<U.S. gasoline consumption was at a rate of 52 million gallons per day (already more than 20% below the 1998 all-time peak). In the five years since the start of this pretend-recovery; U.S. gasoline consumption has fallen all the way to 18 million gallons per day.>> 18 million gallons/day is less than 0.5 million barrels/day. If you look at rack sales volumes in the graph linked below, you will see they are well in excess of 200 million gallons/day (over 10x the stated consumption in the article) and flat to slightly growing. eia.gov Where does the author infer all this gasoline goes? Just disappears in thin air? I realize gov't reporting isn't ideal, but people need to be more careful in using selected data sets. There are other sources, such as the FHWA tables fhwa.dot.gov and ORNL compiles a transportation energy book (see in particular Table 2.11) cta.ornl.gov. And just for reference, 18 million gallons/day would only generate ~$1.2 billion in federal gasoline taxes annually. Total federal gasoline/diesel taxes are about $33 billion annually. That gives you a sense of how far off the article is. KJ

To: isopatch who wrote (184151)	6/1/2014 7:29:51 PM
From: Biomaven	Read Replies (2) \| Respond to of 206198

>gasoline supplies This guy on zerohedge is not only paranoid and deluded, he is also incompetent. Five minutes googling reveals the following: The graph on gasoline supply he shows is retail sales by refineries. That has indeed dropped. Here are two relevant informative graphs showing actual gasoline supplies, which have been remarkably flat: Product supplied: eia.gov Wholesale/resale volume (through 2006 - no longer updated) eia.gov Gasoline consumption in the US is indeed down some - both fewer miles driven and better fuel economy. But gasoline imports are down and exports are up substantially. (The stupid rules that prevent export of crude mean that refined products get exported instead). Peter (EDIT: I see now that KyrosL on this thread also pointed out the issue with this post)