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This is a perfectly timed post. MW (Mike Watkins), Stuart, Rick, me and others have all posted/commented recently that decreased demand after Labor Day and the hurricanes has leveled off. At one point, I asked "how in hell could demand be expected (by the market) to fall off if the market kept lowering the price?" MW has published the EIA numbers, Stuart has just made a convincing case that Americans will drive more and more no matter what happens. You are talking about the excrement hitting the air conditioner (WTSHTF) when this entirely artificial supply & demand gasoline situation ends. I can not see what will happen to avert prices going up, maybe a lot. "Demand destruction is needed to balance the market".
When Yergin opines that "I suspect demand is on a different track now... I think globally...", one suspects that this statement was made shortly after the drugs kicked in. Well, we're about to find out, though in the World According to Stuart (and Kunstler) -- a worldview I totally agree with, this demand drop will not be significant.
Gasoline demand fell 57,000 barrels a day to an average 8.8 million barrels a day, the report showed. Consumption has averaged 8.8 million barrels a day during the past four weeks, the department said.
The US Government is good enough to tell us "demand" down to the thousandth decimal place (with 8.8 million bbls as a benchmark).
Take your own informal poll. Have you "saved" any gas/diesel by any measure? My bypass was as crowdwd as ever.