Holiday Week Gasoline Demand Plunges To Lowest On Record

Tyler Durden's picture

While Americans were purchasing stuff they don't need with money they don't have to impress people they don't like in the holiday week (but making sure to keep those tags off - you don't get record gift returns if you damage the product or rip the tags off), it appears they did so by walking everywhere. Either that or when it comes to determining real consumer purchasing power, the real answer lies at the pump. According to MasterCard, U.S. gasoline demand sank 14 percent from the prior week to the lowest level in more than seven years of records, as reported by Bloomberg. "Drivers bought 8.16 million barrels a day of gasoline in the week ended Dec. 30, down from 9.46 million the week before, according to MasterCard’s SpendingPulse report. MasterCard’s data goes back to July 2004." So we have just had the lowest gas demand week on record, and that's with gas still at relatively low prices considering what has happened with WTI. One wonders what will happen to end demand when prices finally trickle through. Or perhaps this is all just the central planners' insidious plan to get everyone in America to buy Government Motors magically exploding electrical fire hazard bumper cars? The people demand to know.

From Bloomberg:

Fuel use fell below a year earlier for the 18th consecutive time last week, slipping 3 percent from 2010 levels. Fuel demand over the previous four weeks was 3.4 percent below a year earlier, the 41st consecutive decline in that measure. “We observed a noticeable week-to-week drop in gasoline consumption as many drivers were off the roads due to the holidays,” John Gamel , a gasoline analyst and director of economic analysis for SpendingPulse, said in the report. The week began on Christmas Eve.

Of course the imminent spin is just how many more iPad aps the American consumer can buy with all the extra money "saved" from actually walking for a change. Should be good for at least 10 ES points, which courtesy of 1.000 correlation will send Crude at least $1 up higher...

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hedgeless_horseman's picture

 

 

Staycation, bitchezzz!!!

 

Disclosure statement: short PCLN

CPL's picture

Don't forget, Sears is closing soon and returning something with get far more complex than walking into a store.

 

Might also want to attempt to return the Sears brand stuff for replacement.  They have that life time warranty on their tools and equipment, so if it's only a little broken/scratched, go get a new one.

 

Alternatively, the tool selection at Sears is awesome.  Even without the warranty on the goods, the tools they've developed over a 150 years of retail trade are excellent.  Most of it can be bought for pennies on the dollar now.

NotApplicable's picture

I'm assuming the tool brand will survive as it has been franchised. My local Ace Hardware put in an entire Craftsman section a couple years back.

hedgeless_horseman's picture

 

 

My local bank is full of tools, and so is the courthouse downtown.

tmosley's picture

Yeah, but they aren't useful for making anything, only demolishing and theft.

NotApplicable's picture

If your only tool is a hammer...

economics1996's picture

Ben needs to print some more fucking money.

CPL's picture

I'm looking at a reasonably sized grill and snowblower

http://www.sears.com/shc/s/p_10153_12605_07116143000P?vName=Outdoor+Livi...

 

130 bucks for something with standardized part sizes for easy repair, down from $350.  The rest of them are junk.

 

http://www.sears.com/shc/s/p_10153_12605_07188830000P?prdNo=5&blockNo=5&...

 

The engine is pretty much worth more than the $1000 price tag.  Again, it's a real engine, you can go to a wreckers and pick up parts from any 4 cyc engine and be assured that it will behave itself.

 

If there is one thing Sears has done is enforce standards on part sizes and screw drivers, wrenches, socket sets, etc.  With them dumping inventory online, I'm pretty sure floor items when they start to close the stores will be impressive.

Of course the prices might not seem exciting, but we live in a universe where people line up for iPods that last a year and shrug their shoulders if you mention a steel framed workbench that will last half a century  being on sale for the same price.  I got my Dad's old one, same one being sold now incidentally because it's hard to tamper with refined perfection in terms of a Craftsman workbench.

 

francis_sawyer's picture

"While Americans were purchasing stuff they don't need with money they don't have to impress people they don't like in the holiday week...it appears they did so by walking everywhere."

Funniest fucking opening sentence I've ever read!

Staycation's all I ever wanted (the music video)

http://www.youtube.com/watch?v=sLXlwKbLjDM

LFMayor's picture

Damn, thanks for bringing those go go's memories.    I would have donated a testicle to be one of their roadies.

Diogenes's picture

"While Americans were purchasing stuff they don't need with money they don't have to impress people they don't like in the holiday week...it appears they did so by walking everywhere."

Funniest fucking opening sentence I've ever read!

Staycation's all I ever wanted (the music video)

 

Ha ha ha 300 million Americans walking wonder how many tons of lard they walked off their fat asses ha ha ha ha ha

CJHames's picture

He stole it from Dave Ramsey, 'The Total Money Makeover.'   One of the greatest lines ever.

 

Another Ramseyism I love is "where cash is King and the paid off mortgage has replaced the Lamborghini as the status symbol of choice."

Oh regional Indian's picture

Hey CPL, if you are up for it, can we get in touch off-line? Got something interesting to run by you.

ori

You can leave me a message on the blog. aslice-of-life-in-picts/

 

jcaz's picture

I want to shop at YOUR Sears, then, because Craftsman at MINE hasn't come down one penny;

Nice hyperbole, tho- stoke those fires!

francis_sawyer's picture

They have a lot of "tools" in upper management as well...

Apparently, Eddie Lampert merged the tool department with the executive suite as a cost cutting endeavor...

trav7777's picture

oil PRODUCTION is down, therefore gasoline demand will fall.

Gasoline consumption is GDP like everything else.

eureka's picture

Yeahhh! Yubeee! I hate flying and freway jams anyways.

Hey - we can bike on the freeway. How about that. Lots of Fuuunnn!

"One wonders what will happen to end demand when prices finally trickle through"...

Biking the freeway, Dude. It's the new cool. Europeans are going to be soooo envious. US RULES !!!

Hippocratic Oaf's picture

Just as Obama wants. Won't let us drill, won't let us pipe it down, fuckin' up foreign oil relations etc.

Going green is turning brown and his actions are totally destroying the economy (what's left of it)

 

trav7777's picture

uh...DEMAND fell.

People are driving less...this is an inevitable consquence of gasoline persistently OVER $3/gal.

Much as morons like Robotard trumpet the "collapse" in gas prices, you can hardly call $3.50 a gallon a collapse or any kind of low price point.  This input cost to doing everything trickles through all phases of the economy.

Jay Gould Esq.'s picture

How many more ways can the story be told ?

They can supress rates, print, subsidize, write-off, defer, inflate, and bail out all they wish, but all for nought -- it is but pushing on a string.

This is a depression.

GeneMarchbanks's picture

Triple digit WTI says someone somewhere is demanding.

trav7777's picture

let's use export land model to figure out what happens when nation after nation drops off the exporter list.

WHERE is the US's oil gonna come from?  Consumption has no choice but to fall in importing nations; there is FAR LESS oil now available for import.  THAT is what the WTI and Brent numbers indicate!

People focus on production and never look at how importer nations get their oil.  Average time between peak and importer status is 7 years.  After that point, nations aren't exporters any longer.  Look at the UK, Mexico, Indonesia.

Seer's picture

Exactly, Trav!

I've been pointing this out for years.  It's peak export, not peak production that we'll experience first.

This is why some countries are absolutely screwed: UK, Japan etc; US still has a fair amount, but only if it were to really reduce consumption (and then this ONLY delays the inevitable).  Russia and Canada are OK, though they rely on money from exports.

In the end we'll ALL be holding hands and jumping over the cliff...

Meremortal's picture

"This is a depression."

It only took you 3.5 years to figure that out?

fonestar's picture

Participaction and excercise bitchezzz!!!

lolmao500's picture

Or perhaps this is all just the central planners' insidious plan to get everyone in America to buy Government Motors magically exploding electrical fire hazard bumper cars? The people demand to know.

Which costs $250k per car to taxpayers.

http://www.michigancapitolconfidential.com/16192

vast-dom's picture

That's exactly where I went without any shit that no one needed....best things in life: free and priceless.

 

DCFusor's picture

Tyler's just jealous of my new Volt, which I charge off my solar panels and which uses no gas - while probably being quicker than his euro-trash sporty car.

Or that I got some of our bailout money BACK, while he didn't.  Sour grapes, bitchez.

Sure, NHSTA managed to get one Volt they total-lossed in a side pole impact crash to catch on fire - 3 weeks later.  Wow, I'm really fucking scared I might be burned alive after being left in a totalled car for three weeks.  As if - that's right, gasoline powered cars NEVER catch on fire, do they?  When they couldn't get it to happen again after totalling some more cars, they tried just batteries - and still couldn't get a fire, just a few sparks.

But constructive solutions to real problems don't get much shrift here - more fun to do the gloom porn all the time with no balance, eh?

And no, while I have long hair, I'm no leftie-lib-hippy.  I'm a mountain man who decided to take power away from TPTB by not having to subscribe to the oil companies, or the power companies or much of anything else.  I'm starving the beast.  Y'all are just talk - I'm taking action.

 

You'd think even Tyler could figure that one out - and not fall into the astroturfing dissing created by TPTB - big oil, on what is actually a very good car.  When this battery issue came out, the response of thousands of owners here was "from my cold, dead fingers you assholes".  It's not a GM affiliated site.  Kind of says it all.  Y'all want to live in the past, like towel head Muslims, go for it - but let me move on.

 

jcaz's picture

Wow- somebody actually bought one of those pieces of shit......

 

tarsubil's picture

While slow, cramped, slightly explosive, and having no trunk space, it is also expensive even after hundreds of thousands of subsidies. Buy one and tell the man you're nobodies fool!

DCFusor's picture

Go ahead and starve to death sitting on your imaginary stash of gold when you can't get to where anything to eat is with it to survive.  Slow?  Cramped?  Obviously  you've never driven one.  Go suck big-oil cock.  Expensive compared to what?  It's not a 40k cruze - it's a 40k BMW or Audi.  The other day I put two full size bicyles into the hatch with room to spare (to sell someone, it's too hilly where I live for biking) - and didn't have to remove any bike wheels to do it.

 

I now burn more gas in lawnmowers and chainsaws than in my car.  You think that's a worthless feature?  I'll have the last laugh on that one.

 

You just gotta love ignorants who can't even astroturf with facts and just have to make shit up.

hedgeless_horseman's picture

 

 

DC Fusor is just jealous of my new colt, which I feed off my pasture and which uses no gas or electricity - while probably having better range than his Detroit-trash electric car.

Or that I got some of our fertilizer out of his BACKSIDE, while he doesn't. Sour grapes, bitchez.

Sure, Christopher Reeve managed to get total-paralysis in a sand hole impact crash after trying to jump in a hunter ring for the first time. Wow, I'm really fucking scared I might be paralyzed after taking jumping lessons for three hours. As if - that's right, electric powered cars NEVER cause paralysis, do they?

But constructive solutions to real problems don't get much shrift in D.C. - more profitable to do the government will provide a solution porn all the time with no balance, eh?

And no, while I have a long shlong, I'm no stallion. I'm a horseman who decided to take power away from TPTB by not having to subscribe to the car companies, or the power companies.  I'm starving the beast. You are just talk - I'm taking action.

You'd think even you could figure that one out - and not fall into the astroturfing dissing created by TPTB - The Big Three, on what is actually a very good mode of transportation. When this Superman paralysis issue came out, the response of thousands of owners was "he was just an actor, not really Superman, you assholes".   Kind of says it all. Y'all want to live in fantasy land, like Los Angeles commuters, go for it - but let me ride on.

 

Slartebartfast's picture

Sweet!  Do you work at The Onion?

hedgeless_horseman's picture

 

 

I grow them.  Does that count?

DCFusor's picture

Actually, I have no need to be jealous there.  I have horses too - real ones, and so do many of my neighbors.  They're not as fast or as comfortable as the best piece of american engineering to appear in a very long time - actual MAKING STUFF IN THIS COUNTRY like so many here complain we don't do enough of.  The horses are nicer to pet, but much more expensive (you have to feed them even when you're not riding) and smellier.  And more work.

If you're going to complain that we don't make stuff here - stop trying to prevent anyone who does from selling it, jerks.

Good satire, though.  I have a sense of humor, and am looking for some flame decals to apply to my Volt, actually.  Should draw in even more chicks.

Guys, just go drive one and then comment.  They're really nice works of engineering art.  And don't forget - a bunch of car companies got those subsidies too - but never made ANYTHING decent if at all for them...And gawd, Ford uses microsoft software.  Whole new meaning for "the blue screen of death" eh?  Where's my electric Ford or Chrysler?

Meanwhile, I gotta drive up to the county seat, using electricity I've gotten from the sun today - fuel cost == 0, it's extra from my solar system after my house batteries hit full charge.  Even in winter.

Being ready for the worst is more than having a stack of gold, guns, and beans, you know.  I have them too.  And not imaginary, like most of the "internet tough guys" here - I'm a gunsmith and competitive shooter, and some of that gold is trophies from wins.

Enjoy your laughs - I'm about to have mine.  There are plenty of jokes to go around.  I just like it better if they're truthful.

 

Seer's picture

"If you're going to complain that we don't make stuff here - stop trying to prevent anyone who does from selling it, jerks."

What UTTER BS!

I spent energy battling against the ethanol lobby (which had idiots on the Left believing that they could have their eco-friendly fuel, and the wealthy "businessmen" on the Right who were looking for handouts from the govt).  According to your statement I was a "jerk" for doing this.  According to your statement EVERYTHING, no matter how fucking flawed, no matter how much subsidies have to be poured in to it is justifiable?

Fuck you!  Fuck you for assuming that I should be made to subsidize UTTER BS!

"Meanwhile, I gotta drive up to the county seat, using electricity I've gotten from the sun today - fuel cost == 0, it's extra from my solar system after my house batteries hit full charge.  Even in winter."

And who the fuck paid for those roads?  And who subsidized those technologies?

Over-spec'd your solar system is what I read: yeah, I know solar systems.

2/3 or the world's population lives on $3/day or less.  You're a fucking braggart prick, plain and simple.  Chickens will come home to roost: Lightning bolts on your car and your  solar panels will be target practice for lots of folks...

Seer's picture

I'm not a horse person (though I was around some when I was younger), and I have no interest in having any (save the grass for the meat animals [though horses are likely to make a bit of a comeback here], but...

My hat's off to you!  Nothing like aligning things with REALITY!  Horses don't need asphalt :-) (one of the points that Mr. "I'm totally OFF the grid and I drive a Volt" and others like him ALWAYS miss)

Ace Ventura's picture

What sort of MPG do you get? Does this 40k 'BMW' of yours use a gasoline engine to continually recharge the battery? If so, how do you know when the battery is running low in terms of overall charge-life? Can you say with any level of confidence that you won't reach a point where your car is running mostly off its gasoline engine as the battery life wears out? Have you checked into how long the battery in those things is supposed to last before requiring replacement? How about the costs associated with doing that?

Lastly: Just how far can you ACTUALLY go in that thing on electric power ONLY?

 

 

DCFusor's picture

On pure gasoline, it gets about 40 mpg - not that great, but reasonable.  It's a heavy car which hurts that, but adds to the luxury, very tight - no frame flex, front suspension is all Bosch parts (same as that Audi or Beemer).  The engine does NOT run all the time, and in fact many people have put 10k miles on the older Volts without it running at all, other than the forced monthly start they have programmed in to keep it oiled.  It's the same variable cam timing 4 banger they use in the Cruze, without the turbo.  You can command it to run, in which case you can get both electric motors and the IC engine involved - at that point it's a rocket.  Not like my LS3 Camaro SS, but then the gas mileage is a little different.

I get roughly 45 miles on a charge, all electric, living in the mountains.  If I have to do a longer trip, the engine will cut in at about 10% battery left - they keep some reserve on both ends since the electric is where all the peak power and torque comes from.  I live near the top of a mountain, and I get about 4-5 extra miles worth of charge going down as I go someplace from regeneratibe braking.  But of course, coming home I have to climb that, and often turn on the engine on purpose since you can really use the extra power in that case.  Of course, it depends on how you drive.  If you're constantly blowing off "sporty cars" at the stoplight derby, the range goes down.

That 40-50 miles (the record is about 70) costs you 13.5 kwh - at 10c each, that's pretty cheap even if you have to pay for the electricity, unlike me.

At any rate, here, where it's 10 miles to the nearest "anyplace to buy beer or munchies" - I use zero gasoline in it.  In winter I might force the engine to run to get heat quicker, that's about it.  Nice to have the choice at all times.

The warranty on the batteries is 6 years and 100k miles - free replacement, no pro rata.  You are very aware of battery capacity at all times, since there's real time data aquistion on the color screens in the car for that.

I like also having the unlimited range the IC generator/engine gives you - that idea that I could just drive cross country isn't real in a pure electric.

The car has a bunch of modes - you choose.  The software is pretty impressive.  The bling in the dash is attractive - it's like a star trek cockpit.  Nice color touch screens kind of stuff.  Stereo kicks total ass.  Built in sat phone and nav.  Leather...all the nice things.

More on my forums:

(including video)

http://www.coultersmithing.com/forums/viewforum.php?f=48

 

If y'all haters want to hate it, fine - you're the loser in the end - you paid for subsidies *I* got - suckah.  At least stick to facts, if that's not too hard, instead of reguritating Faux news, which only makes you look like a tool.  What does it look like to stick a hose in your car's ass?  Who's doing the bending over, again?

 

LFMayor's picture

Simon, dammit, we know it's you.  Even though there's no mention of you almost losing your fedora as you base jumped at Angel Falls last week.

UP Forester's picture

What's the mileage when you're stuck in a snowdrift in below zero weather?

And how long can you keep warm in said weather, running on this wonderful new technology?

 

I wouldn't touch one of these with a 10-foot fiberglass pole.

tarsubil's picture

"The bling in the dash is attractive - it's like a star trek cockpit."

Oh, this is satire. My bad. Sorry dougie!

jcaz's picture

Plus U spel gud too.....

Insecure much, dude? 

We get it-  you're not really a pipestem-armed geek, desperate for attention and to show the world you're not the loser your boss says you are.

That you don't have a clue as to the cost/subsidy basis of what you're driving is exactly the sort of ignorance that we find amusing......

Heard this same sort of Kool-Aid when GM snowed people with the Saturn and Geo, too-  problem is, those models hung around longer than the Volt will;  

Watch for the inevitable class-action by shrieking in-the-closet Volt owners, cue in 5...4...3...2....

Seer's picture

Recently read of one woman (CA?) who opted to NOT join in on a class-action suit against Honda (Civic hybrid?) for her car getting only 30mpg: she was offered a paltry amount and opted to go to court on her own.  Something about limited lifespan of the batteries, I think.

People sure do fall for marketing schtick!

Oh!  Here's an article:

http://www.cbsnews.com/8301-201_162-57351325/honda-sued-over-civic-hybri...

Remember too that Toyota muted their Prius claims a couple years back.  So, yes, thinking that revised numbers only happen with economics, well...

tarsubil's picture

The cruze eco starts at about 20k. The volt starts at 40k.

http://www.chevrolet.com/ 

How many more imaginary cars do you own?

BidnessMan's picture

Wow.  An American company comes out with an innovative product that addresses a real problem, and ZH Luddites are bashing it?  Lot of merit in the concept - with the average commute of 20 miles it makes a lot of sense.  I didn't like the GM bailout either, but that does not mean the Volt is not a good concept. And the reports are generally very favorable.  Don't doubt that someone can find a fault with anything.  Easy to come up with 100 reasons why something will not work. Any dipshit can do that.  I am much more impressed with someone who goes out and actually does something.  Does it have to be perfect on version 1.0?  Nope. And it never is.  The gas tank of any gas-powered car is a rolling bomb, and we let our Grandmas get in them every day without a second thought.  At $40K price point for a Volt is too high for the aveage smo when gas is $3 a gallon and a perfectly fine gasoline engine car costs $20K.  But that will not be the case with $10 a gallon gas.

So my appreciation to the ZH Luddite Volt bashers and the press writing hysterical articles about one Volt battery catching on fire.  After considerable effort to make it catch on fire.  With any luck the Volt price will drop and I can get one cheaper.  The business case of replacing my M35 does not work at $3 per gallon gas.  But that will soon change as the M35 wears out and gas goes to $10 a gallon.  Spend my soon to be rapidly depreciating dollars on a Volt, and zip by all the Luddite naysayers stranded on the side of the road begging for gas and waiting in 1974 gas station lines....  My vacation hideway is within 10 miles of a very reliable nuclear power plant, so I will have electricity to recharge the Volt regardless.

 

 

tarsubil's picture

Who brags about owning a Volt?