To: Mechanicos
What other plausible explanation is there for the decline from 42.4 MGD in July 2011 to 30.9 MGD in November 2011 other than a dramatic decline in discretionary driving? That 27% drop in a few months in unprecedented, except in times of war or sharp economic contraction, i.e. recession. This is bad economics. A decrease in quantity consumed that occurs at the same time as an increase in prices (gas prices have risen), is easily attributable to a decrease in supply. I.E. the supply curve has moved up and to the left:
Simple undergraduate economics, really.
13 posted on
04/03/2012 8:02:02 AM PDT by
Thane_Banquo
(Support hate crime laws: Because some victims are more equal than others.)
To: Thane_Banquo
Oh that is a fantasic and accurate tag line
BTW.. it did not inclusive (reasons of size) Because we are run by crap socialist economics.
EL
20 posted on
04/03/2012 8:10:59 AM PDT by
Eureka_Lead
(There shall not be a dictatorship when the citizens have firearms & Ammunition - Stay Vigilant)
To: Thane_Banquo
Oh that is a fantastic and accurate tag line
BTW.. it did not inclusive (reasons of size) Because we are run by crap socialist economics.
EL
21 posted on
04/03/2012 8:11:26 AM PDT by
Eureka_Lead
(There shall not be a dictatorship when the citizens have firearms & Ammunition - Stay Vigilant)
To: Thane_Banquo
Dont confuse people with the facts! ;-)
28 posted on
04/03/2012 8:28:35 AM PDT by
RobbyS
(Christus rex.)
To: Thane_Banquo
While there may be some overall decrease in supply, we’re exporting more gasoline than ever. The same drop in demand happened during and after the oil embargo in the 70’s.
29 posted on
04/03/2012 8:28:38 AM PDT by
meatloaf
(Support House Bill 1380 to eliminate oil slavery.)
To: Thane_Banquo
It’s amazing how little people understand this. Especially in the MSM.
57 posted on
04/03/2012 9:30:37 AM PDT by
WKUHilltopper
(And yet...we continue to tolerate this crap...)
To: Thane_Banquo
A decrease in quantity consumed that occurs at the same time as an increase in prices (gas prices have risen), is easily attributable to a decrease in supply. Is there a decrease in supply?
71 posted on
04/03/2012 10:36:48 AM PDT by
UCANSEE2
(Lame and ill-informed post)
To: Thane_Banquo
Also, Demand is Global, so when Chinese and Indian people get their first motorcycle or car, they contribute to total global Demand, shifting that curf up and right.
That’s a price increase based on a Demand increase, even if the U.S. consumes less.
77 posted on
04/03/2012 11:34:13 AM PDT by
Uncle Miltie
(FOCUS ON FACTS: 0bamaCare Hated. Worst Recovery. Failed Stimulus. Worst Deficits.)
To: Thane_Banquo; dirtboy
A decrease in quantity consumed that occurs at the same time as an increase in prices (gas prices have risen), is easily attributable to a decrease in supply. I.E. the supply curve has moved up and to the left:
Japan has just about all of their nukes shut down post-earthquake and has to buy oil to make up for much of the lost electrical generation capacity. 11 posted on April 3, 2012 11:01:33 AM EDT by dirtboy
Maybe, globally, the demand didnt drop . . .
82 posted on
04/03/2012 2:49:00 PM PDT by
conservatism_IS_compassion
(The idea around which “liberalism" coheres is that NOTHING actually matters except PR.)
To: Thane_Banquo
Buying gasoline is not all that optional in the United States - it's not flexible demand.
In Europe, perhaps, but they don't have to deal with the distances that most American commuters must deal with.
94 posted on
04/03/2012 8:48:53 PM PDT by
kiryandil
(turning Americans into felons, one obnoxious drunk at a time (Zero Tolerance!!!))
To: Thane_Banquo
No no.. please don't correct them on facts. It has nothing to do with refineries closing. It has nothing to do with a global gasoline market that has us sending millions of gallons to other countries.
Gasoline has become as much of a global market as Oil itself.
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