Posted on 01/22/2009 10:21:16 PM PST by TigerLikesRooster
Thursday, January 22, 2009
DOT: U.S. Vehicle Miles Driven Declines Sharply
by CalculatedRisk on 1/22/2009 09:48:00 AM
The Dept of Transportation reports on U.S. Traffic Volume Trends:
Travel on all roads and streets changed by -5.3% (-12.9 billion vehicle miles) for November 2008 as compared with November 2007. Travel for the month is estimated to be 230.4 billion vehicle miles.
Cumulative Travel for 2008 changed by -3.7% (-102.1 billion vehicle miles). The Cumulative estimate for the year is 2,656.2 billion vehicle miles of travel.
This graph shows the annual change in the rolling 12 month average of U.S. vehicles miles driven. Note: the rolling 12 month average is used to remove noise and seasonality.
By this measure, vehicle miles driven are off a record 3.7% Year-over-year (YoY); the decline in miles driven is worse than during the early '70s and 1979-1980 oil crisis. As the DOT noted, miles driven in November 2008 were 5.4% less than November 2007, so the YoY change in the rolling average may get worse.
So far the slowing economy is more than offsetting the sharp decline in gasoline prices last year.
Ping!
Nice graph!
FWIW, we have a 1995 Ford Exployer and only have 24,000 miles on it, and we have been across the country east to D. C. and to So. Cal. four times.
We don’t drive much. LOL!
Well, I did go from 23,000 to 3,000. I guess that plays.
The biggest profiteers of gasoline prices next to the crude oil producers are governments, state and local. Guess what, the gas tax revenue is not coming in.
Let me guess, the government figured this out after spending 185 million on a study, when all they had to do was ask any 4th grader.
So how are we doing in reducing emissions? The greenies should love this development.
This means we don’t need those infrastructure improvements the Dims want to waste our money on.
Watch the boob tube closely and study closely the eyes and facial expressions as the politicoho's and the MSM folk try to pump up the consumer....wait until the real numbers from the past retail season come out of the hated celebration of the birth of Jesus Christ.
Watch as our taxes are now starting to increase (as I type and read) as the goobermint accelerates its borrowing.
I see even more of a flood of unskilled un-inoculated illegal freeloaders pour into the US so the banks can create another credit bubble based entirely upon wishful thinking. In the meantime, those still having a job will pay for it all.
The force of the impact coming has never been seen before.....it just will appear to be happening in slow motion.
When one wears a size 18 slip Im sure its hard to travel much.
To me, an optimistic scenario is as followd: We have everything: huge debt, long stagnation, big bank failures, local government default and high taxes. Debt problem more serious and economic stagnation a lot longer than 90's Japan. High(or huge) inflation. California and other big blue states default. But narrowly avoid total collapse of financial system, U.S. government default, and no total social breakdown, and no international major wars.
Less optimistic one may avoid total financial collapse and federal government default, but would have social breakdown, and major political turmoil and war internationally(with or without U.S. involvement. I am talking about wars other than Afghanistan or Iraq.)
The bad-to-worse scenario: most or all of bad things above do materialize, and add a major domestic conflict.
Keep dreaming sir. China, Russia, Venezuela, North Korea and Iran are all EAGERLY awaiting the proper time to strike their targets.
Keep dreaming sir. China, Russia, Venezuela, North Korea and Iran are all EAGERLY awaiting the proper time to strike their targets.
You are going to get your arse kicked from here to haides, Dain, and by little size 10 me. Actually, I should be a size 8, but Cyber ruined me with science — of pizza.
How’s your hose? Still pumping?
Im still putting out my ladies fire! Like cold water!
There’s no such thing as cold water in So. AZ. I have to put ice in my bathtub which is set on cold. Maybe you ought to come here?
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