Mike Shedlock
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Another summer is gone. How much gasoline was used vs. the same months in prior years? These charts from Tim Wallace have the answer.

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  • Gasoline usage is the same as it was in 2001 or 2002, depending on the month.
  • Petroleum usage is the same as it was in 1997 or 1998, depending on the month.
  • Gallons per mile did not suddenly improve in 2007. Thus declining gasoline usage cannot be attributed to improved gas mileage, cash for clunkers, etc.
  • There was a rebound in June and July of 2010 consistent with the economic recovery. For August alone there was rebound in 2010 and 2011.
  • Based on gasoline usage, the economy has stalled or there is some other force in play, not related to improved gas mileage.

Total Petroleum Usage

 

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Mike Shedlock

Mike Shedlock is a registered investment advisor representative for Sitka Pacific Capital Management.