Posted on 05/08/2021 5:22:04 PM PDT by entropy12
Despite high vaccination rates in many parts of the world, people appear to be still wary of public transit, opting for personal vehicles, which is driving up demand for crude oil along with metals.
Car sales in Europe soared by 63 percent last month to 1.39 million, which was high not just compared to last year, when sales of everything but handwash and toilet paper were subdued. The March registrations number was the highest monthly car sales figure since June 2019, Bloomberg noted in an earlier report.
But the news is not so good for city dwellers, according to the more recent Bloomberg report. The great car comeback could be here to stay as one of the lasting effects of the pandemics on our lifestyle. This would mean heavier traffic jams in already congested cities, and longer commutes for those who will still be working from an office. Before that, however, people will be traveling for pleasure.
(Excerpt) Read more at safehaven.com ...
Cars not driven for a year tend not to work and people replace them with new cars.
My son’s 2015 VW couldn’t sit for 2 weeks without the battery dying. Europe was locked down hard for Months.
People replacing old cars with new cars won’t increase oil demand.
Stupid Logic.
Engineer to EV owner, “where does the power come from to charge your car?”. EV owner, “from the plug in my garage”
I rode mass transit for years in Hong Kong. I completely understand why people would not want to.
“What are the investors seeing?”
Higher Crude Oil Prices.
Thanks Jao “Jimmah Carter” [can you say Inflation?] Bye-XI-Done.
The biggest advantage of moving to a smaller town here in FLorida is the lack of traffic jams. I spent many years living in Chicago area with daily commute of 70 miles round trip for 24 years. Good thing I was young and could handle it, and gas was cheap in those days, but the driving was horrible.
Huge Inflation, nobody is talking about/doing anything about, yet interest rates are still at zero?
A totally incompetent Biden admin that is going to bring on the era of the $12 Big Mac?
Soon to be here — Inflation levels from the Jimmah Carter era.
That would be funny if it was not true. Most EV owner do think they are saving on fossil fuels.
Meanwhile, all the ‘woke’ governments in the world are trying to destroy the entire oil industry and keep consumers from buying and using any old ‘fossil fuel’ products.
So within 5 minutes I read an article about killer inflation, and here an article about a jump in car sales.
Both cannot exist together.
Inflation is not the same across the board. With $3200 stimulus checks many can do the down payment to buy a car.
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