Why Is Gasoline Consumption Tanking?

Of Two Minds ^ | 2/10/2012 | Charles Hugh Smith

[C. Edmund Wright]

Demand elasticity is an interesting topic. I think it is 90% when you factor in trucking use and so on - in the short run.

In the long run, it is surely more elastic as people have time to cancel vacations and soccer leagues and join car pools and change habits and so on. People want normally cancel an already scheduled vacation or activity when gas goes up, but they can damned sure not plan it for the next year.

What we may be seeing is the result of 3-4 years of folks slowly reconfiguring their lives to drive less.

[nascarnation]

even more data and possible analysis:

http://www.zerohedge.com/news/guest-post-why-gasoline-consumption-tanking

[Bronzewound]

Only actually the number is closer to 20%, if you count ALL adults who have exhausted their unemployment, given up on finding a job, underemployed, or recently "joined" the job market.

Yes, my 11% was accounting for everyone over and above the more often published 8%-9%. There is always some unemployment, albeit not this high.

[Repeal The 17th]

Interesting.
Every one of those monthly figures show a decline since 2006.