New Jersey Classifieds

GasBuddy News Article

votes

Huge Plunge In Petroleum and Gasoline Usage

MISH'S Global Economic Trend Analysis -- As I have been telling you recently, there is some unprecedented data coming out in petroleum distillates, and they slap me in the face and tell me we have some very bad economic trends going on, totally out of line with such things as the hopium market - I mean stock market.

This past week I actually had to reformat my graphs as the drop off peak exceeded my bottom number for reporting off peak - a drop of ALMOST 4,000,000 BARRELS PER DAY off the peak usage in our past for this week of the year.

Read the Full Article

Submitted Feb 09, 2012 By: hoosierva

Back To News

Category: Daily News Article Discussions > Topics	Add to favorite topics

Author	Topic: Huge Plunge In Petroleum and Gasoline Usage	Post a Reply Back to Topics

REPLIES (newest first)

SkyWarnTX All-Star Author Texas Posts:945 Points:56,845 Joined:Jan 2012	Message Posted: Feb 10, 2012 10:43:40 AM Ignore SkyWarnTX Report Abuse Higher Mileage Vehicles use less GASOLINE...Imagine that...
molebaby96 All-Star Author Tallahassee Posts:739 Points:168,025 Joined:Nov 2011	Message Posted: Feb 10, 2012 8:22:20 AM Ignore molebaby96 Report Abuse Lower price at pump.
eomc17 All-Star Author Tucson Posts:900 Points:70,500 Joined:Mar 2007	Message Posted: Feb 10, 2012 12:27:49 AM Ignore eomc17 Report Abuse The gas prices keep going up because of the constant deregulation of commodity trading in Wall Street since 2000. And you many Obummer bashers like to blame our president for the current big oil gas price manipulation. However, BUSH was BY FAR the worst culprit of the three presidents involved in this financial fiasco for our economy. Before 2000 there was only one market where oil and gas was traded, in Wall Street. Now there are the major markets in London, Dubai, and Singapore but there are also in countless smaller unnamed markets all over the world. Our inept president cannot fix this huge mess that Bush caused while the gas prices skyrocketed under his watch. That insane Iraq invasion inspired Big Oil to rip us off as never before and these crooks never looked back, raking in over 1,000,000,000,000 dollars in profits. And these AHOLES needed subsidies???? Every year big oil increases its profit margin for gas, blaming China and India?? We don't send WTI crude to these countries so they shut down refineries and have crooked speculators cook up any lame excuse to keep raising our gas prices most of the year and take way too long to give us any relief at the pump. A republican president will not lower our gas prices. Remember what the last one did to our gas and oil prices?? The 147$ barrel of oil prices happened under Bush's presidency just as our record gas prices last year and this year happened under Obama's watch. No matter how you look at it, both of these dudes sucked.
alterman156 Champion Author New York Posts:5,625 Points:1,197,650 Joined:Dec 2008	Message Posted: Feb 10, 2012 12:21:36 AM Ignore alterman156 Report Abuse Some of the drop might be due to reduced heating oil usage since it has been a milder than average winter in the northeast where heating oil is commonly used.
roadrunnin Champion Author Richmond Posts:1,317 Points:370,240 Joined:May 2008	Message Posted: Feb 10, 2012 12:11:47 AM Ignore roadrunnin Report Abuse Higher gas prices = lower usage.
Vette1967 Champion Author Albany Posts:4,177 Points:920,355 Joined:Jun 2009	Message Posted: Feb 9, 2012 9:59:12 PM Ignore Vette1967 Report Abuse What we don't use...someone else does.
jimgraham Champion Author Akron Posts:8,509 Points:1,620,630 Joined:Oct 2007	Message Posted: Feb 9, 2012 9:53:06 PM Ignore jimgraham Report Abuse I wonder why? My granddaughter got laid off from her "seasonal" job - I got laid off a long time ago, my wife gets no "extra days" of work - tho, for the time being, she still has her job. We don't go anywhere that we don't absolutely have to anymore - I wonder why gas usage is going down???
DerHahn Champion Author Illinois Posts:11,762 Points:1,760,635 Joined:May 2004	Message Posted: Feb 9, 2012 9:29:54 PM Ignore DerHahn Report Abuse graph shows oil usage is dropping faster than it went up. too bad fuel consumption levels dropping to 2001 levels didn't come with 2001 pump prices to go with it.
djdon917 All-Star Author New Jersey Posts:808 Points:55,185 Joined:Oct 2007	Message Posted: Feb 9, 2012 9:07:52 PM Ignore djdon917 Report Abuse OBAMA wont let gas prices down all he wants is up up in the way so get use to it its only gonna get higher watchout $5 a Gallon
SkyWarnTX All-Star Author Texas Posts:945 Points:56,845 Joined:Jan 2012	Message Posted: Feb 9, 2012 8:37:49 PM Ignore SkyWarnTX Report Abuse . The U.S. Oil Companies are EXPORTING REFINED GASOLINE to OTHER COUNTRIES... http://www.usatoday.com/money/industries/energy/story/2011-12-31/united-states-export/52298812/1 ... The U.S. Oil Companies are all SIMULTANEOUSLY shutting down REFINERIES due to the GLUT of REFINED GASOLINE in AMERICA as they are still EXPORTING REFINED GASOLINE to OTHER COUNTRIES... U.S. is TOP Exporter of REFINED GASOLINE even as Prices at the Pump Increase... In 2011, U.S. refiners exported 117 million gallons per day of gasoline, diesel, jet fuel and other petroleum products, to other countries... up from 40 million gallons per day a decade earlier. There's at least one domestic downside to America's growing role as a fuel exporter. Experts say the trend helps explain why U.S. motorists are paying more for gasoline. The more fuel that's sent overseas, the less of a supply cushion there is at home. Gasoline supplies are being exported to the highest bidder, says Tom Kloza, chief oil analyst at Oil Price Information Service. "It's a world market," he says. Refining companies won't say how much they make by selling fuel overseas. But analysts say those sales are likely generating higher profits per gallon than they would have generated in the U.S. Otherwise, they wouldn't occur. [Edited by: SkyWarnTX at 2/9/2012 8:39:57 PM EST]
bigmoo63 All-Star Author Kalamazoo Posts:885 Points:56,680 Joined:Nov 2009	Message Posted: Feb 9, 2012 7:55:40 PM Ignore bigmoo63 Report Abuse Just a shift in usage. Demand higher elsewhere. No relief here.
TomT2Lee Champion Author Cincinnati Posts:4,225 Points:1,267,755 Joined:Sep 2005	Message Posted: Feb 9, 2012 7:33:14 PM Ignore TomT2Lee Report Abuse and the rest of the global consumption has gone up how much? A lot...
akitaone Champion Author Tampa Posts:1,309 Points:80,750 Joined:Feb 2011	Message Posted: Feb 9, 2012 7:04:55 PM Ignore akitaone Report Abuse yea ok what ever
bandannaman Champion Author New Jersey Posts:1,154 Points:225,620 Joined:Dec 2010	Message Posted: Feb 9, 2012 6:20:39 PM Ignore bandannaman Report Abuse Yeah, what does this mean though?
Lugi1967 Champion Author Ohio Posts:3,132 Points:651,095 Joined:Jun 2010	Message Posted: Feb 9, 2012 6:16:31 PM Ignore Lugi1967 Report Abuse So the price should plunge shortly
buckets42 Champion Author New Jersey Posts:1,018 Points:196,820 Joined:Oct 2011	Message Posted: Feb 9, 2012 6:12:32 PM Ignore buckets42 Report Abuse Interesting.
kag2010 Champion Author Winnipeg Posts:3,420 Points:663,335 Joined:Apr 2010	Message Posted: Feb 9, 2012 6:03:03 PM Ignore kag2010 Report Abuse Very interesting.
herndonks All-Star Author Baltimore Posts:925 Points:173,285 Joined:Dec 2011	Message Posted: Feb 9, 2012 6:01:40 PM Ignore herndonks Report Abuse Very interesting. Even if global demand keeps prices high, we may begin to take some steps toward energy independance.
playtimeCLE Champion Author Cleveland Posts:6,480 Points:1,187,575 Joined:Nov 2008	Message Posted: Feb 9, 2012 5:24:42 PM Ignore playtimeCLE Report Abuse Maybe people aren't feeling the need to warm their cars so much this winter.
BurntOrange Champion Author Austin Posts:6,696 Points:1,230,680 Joined:Nov 2007	Message Posted: Feb 9, 2012 5:16:47 PM Ignore BurntOrange Report Abuse This "email to Mish" appears to only cover the US. Those that whine about how supply and demand failing to affect price need to consider that the US is not the only market for oil in the world. A global usage chart chart plotted against the price of a barrel of oil would be more telling. And even then, you would need some way to cancel out currency impacts.
FunMyster Veteran Author Indiana Posts:433 Points:45,750 Joined:Jul 2011	Message Posted: Feb 9, 2012 5:08:26 PM Ignore FunMyster Report Abuse Every week one article contradicts another.
graceman Champion Author Baltimore Posts:3,751 Points:917,820 Joined:Jun 2008	Message Posted: Feb 9, 2012 4:40:27 PM Ignore graceman Report Abuse Who can afford it with the prices going up,up and up?
Dphillips720 All-Star Author Michigan Posts:944 Points:291,100 Joined:Mar 2011	Message Posted: Feb 9, 2012 4:32:24 PM Ignore Dphillips720 Report Abuse but yet at the pump it skyrockets
Martinman Champion Author Mississippi Posts:12,522 Points:1,741,020 Joined:Sep 2005	Message Posted: Feb 9, 2012 4:10:08 PM Ignore Martinman Report Abuse You have any idea what Canadian heavy crude is selling for - currently?
Martinman Champion Author Mississippi Posts:12,522 Points:1,741,020 Joined:Sep 2005	Message Posted: Feb 9, 2012 4:08:13 PM Ignore Martinman Report Abuse What? Supply and demand DOESN'T work? Maybe, it's because your big-business friends have been playing you, while they manipulate the market behind your back. Whaddaya think? [Edited by: Martinman at 2/9/2012 4:09:27 PM EST]
humblepie Champion Author Toledo Posts:17,405 Points:2,011,270 Joined:Mar 2006	Message Posted: Feb 9, 2012 4:06:59 PM Ignore humblepie Report Abuse then why the surge at the pump ?
Chem60 Champion Author Tallahassee Posts:1,908 Points:454,475 Joined:Oct 2010	Message Posted: Feb 9, 2012 3:48:51 PM Ignore Chem60 Report Abuse Does not mean a plunge in prices!
sjf238 All-Star Author Philadelphia Posts:715 Points:353,085 Joined:Mar 2011	Message Posted: Feb 9, 2012 3:46:07 PM Ignore sjf238 Report Abuse Interesting.
ForeignBody Rookie Author Georgia Posts:97 Points:204,615 Joined:May 2011	Message Posted: Feb 9, 2012 3:35:42 PM Ignore ForeignBody Report Abuse Nothing suspicious or surprising in this. As others have said it has been a hot winter.
qwerty17 Champion Author New Jersey Posts:2,057 Points:775,050 Joined:Oct 2009	Message Posted: Feb 9, 2012 3:28:12 PM Ignore qwerty17 Report Abuse warm winter. not really surprised. also, if oil keeps going up, cng cars will move right in.
jcotaxi Veteran Author South Bend Posts:452 Points:100,870 Joined:Jun 2011	Message Posted: Feb 9, 2012 3:23:24 PM Ignore jcotaxi Report Abuse If we are to expect more unemployment, why does Obama keep beating the drum about our "slowly improving" economy? Only a politician will tell you that bad news is actually good news.
Martinman Champion Author Mississippi Posts:12,522 Points:1,741,020 Joined:Sep 2005	Message Posted: Feb 9, 2012 3:13:08 PM Ignore Martinman Report Abuse Well, that didn't take long... (for the first political troll to interupt the discussion)
Jeff1944 Champion Author South Dakota Posts:3,484 Points:776,055 Joined:Jan 2010	Message Posted: Feb 9, 2012 3:04:50 PM Ignore Jeff1944 Report Abuse So what will Osama Obama do before the election? How will he create more demand? Or will he continue to write executive orders to thwart business and improve his socialistic mind?
RochBear Champion Author Minnesota Posts:9,123 Points:1,518,780 Joined:May 2006	Message Posted: Feb 9, 2012 3:03:15 PM Ignore RochBear Report Abuse Here's the reason why distillates are so low. It's called Fuel Oil consumption. It has been a very warm winter, and so the demand for fuel oil is WAY down. But home heating oil and diesel fuel is the exact same stuff. (at the refinery level). It has nothing to do with the amount of diesel fuel which has been burned in 18 wheelers. Also this past fall was very dry for farmers. Which means they did not have to use as much diesel fuel (combines take less fuel when the corn is dry). Also farmers did not have to run tractors on grain dryers etc. So less diesel fuel was used there too. All this adds up. But was probably a fluke, and demand will again go up next year.
doggod Champion Author Anchorage Posts:1,082 Points:391,235 Joined:May 2009	Message Posted: Feb 9, 2012 2:52:01 PM Ignore doggod Report Abuse Clearly, something's happening beneath the radar of the mainstream media and their mindless rewriting of government press releases in the name of "news". [Edited by: doggod at 2/9/2012 2:52:33 PM EST]
nerde Champion Author Florida Posts:4,506 Points:963,225 Joined:Jul 2009	Message Posted: Feb 9, 2012 2:22:41 PM Ignore nerde Report Abuse Cash for clunkers worked.
eye-spy Champion Author Quebec Posts:2,763 Points:2,057,745 Joined:Feb 2005	Message Posted: Feb 9, 2012 2:17:30 PM Ignore eye-spy Report Abuse Eventually, something's going to give.
bicycler Champion Author Ontario Posts:13,274 Points:2,314,195 Joined:May 2005	Message Posted: Feb 9, 2012 2:16:37 PM Ignore bicycler Report Abuse Interesting!