Right; “demand destruction” is “give up your private vehicles”.
Unfortunately many Americans have shown they’ll give up anything - including families - to keep a vehicle so they don’t need to use unsanitary, unsafe mass transit.
well, maybe some of the people who profited during the shutdown are out buying EV’s, but most people I know have changed their summer plans. We’re $5.09/gas so families that RV’d every summer have cut back their trips.
Just because the price of gas has gone up for their cars doesn’t mean that people don’t change other things in their budgets to offset that. Restaurants here are closing weekly. Everytime I make a supply run through two areas with small shops there are more and more closing. Some of the storefronts are turning into walk-in med clinics, but thats about the only thing that seems to be flourishing.
Bullshit. Gas prices had been trending downward UNTIL the day of Biden's inauguration, which is the inflection point from downward to upward. The Ukraine war has little to nothing to do with it.
Find an online graph of gas prices vs time that starts in 2016 and goes up to 2021....the demarkation is obvious.
Obozo laughs.
In 2017 the vehicle miles traveled for “to/from” work and “work related business” were 33% of the total.
The other 2/3 of miles traveled were for shopping, other family/personal errands, school/church, social and recreational, and other.
I’d think that most of the latter categories are fairly sensitive to changes in the price of gas.
https://www.bts.gov/content/average-annual-pmt-vmt-person-trips-and-trip-length-trip-purpose
demand destruction for gasoline has already started
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As it has for food, fertilizer, and other energy and interest rate governed commodities.
The more abundant cheap energy you have, the the less things cost, the lower the interest rates, the more things you can make. The Trump Approach. Creates widespread wealth.
Conversely, the more scarce and expensive energy, the more things cost and the higher the interest rates, the few things you can make. The 0bama/Biden Approach. Creates poverty and Depression.
This should.be no surprise to anyone who wasn’t asleep in their Econ 101 class. It’s the basic law of demand…higher prices mean less demand. The premise that these high prices will push the market to embrace the even higher price alternative of EVs is idiocy. Consumers might look for cheaper alternatives like trading in their gas guzzler for a used vehicle with better gas mileage but Biden inflation has made even used cars unaffordable for many and often unavailable. Consumers will simply drive less.
The plan is working. People are driving less. Mobility is freedom, and the left HATES it.