Comments by "Curious Crow" (@CuriousCrow-mp4cx) on "Gas Prices Are TANKING, Here's What That Means for the Economy" video.

  1. Not really as demand this season is at its historical low except for the pandemic. Taken together with the other indicators showing consumer spending is down, and oil production and refining cutting back in the most busy quarter to prep for Thanksgiving and Christmas inventory production and transportation means the slowdown is significant.
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  2. And why do they have a wait time? Less staff than needed perhaps?
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  3. Too small to explain that gap. And, commercial transport has had its own recession from last year onwards. If consumers spending is down, why do you need to ship stuff? Retailers are shutting underperforming branches=less deliveries needed. New Orders for producers is down. Really, you could do with getting hold of two apps: the FRED app, and the Trading Economics app. Both will give you access to all the data you need, and then you can see all economic indicators to the US. The TE app, has all of them, and tracks them. Enjoy.
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  4. how can oil production be increasing, and the refining is reducing production? Also, The US doesn't produce all the types of Oil it needs. It relies on middle Eastern pproduction, right? And Libya's gone off line, but the price of Oil is still failing. Even though OPEC is cutting production yet again. So there's not enough demand for them to reverse those cuts, so how can oil production be going up?
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  5. I think you need to look at sales of new cars,. You'll find that sales of new cars including EVs are down and have been down for months. And most commercial vehicles are still on gas or diesel. If gasoline production is falling, that shows there's a significant falloff of demand in commercial sector, which correlates with a downturn in manufacturing output, and unemployment creeping up.
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  6. Not really. That just tells you what exactly you saw, and nothing else. Try looking at the Trading Economics app and the US economic indicators.
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  7. The turnover in the fleet has slowed because the economy is slowing. Tesla is now having to discount their cars, and used car prices are still high. You'll only see a substantial drop in core consumption of gasoline in about 10 years time, because those who can't afford the transition to EVs will keep driving their petrol cars. And as wage growth and credit costs are not conducive to buying new, EVs are going to be the default in the long term.
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  8. This is the first week of September, and it's autumn, not winter.
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  9. Unlikely to be anytime soon, as new cars sales of EVs hasn't driven out gasoline enough to make a difference. Hell, even Tesla is discounting now. And diesel is down too, as well as gasoline, which suggests commercial consumption is down too. Not surprising when new orders are low, and consumers are either down trading, or not spending at all.
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  10. Relative to when? And any comparison across time needs to adjusted for inflation. And if the US Government is saying its paying less for his oil reserves, then you have to do a bit more analysis rather that just look a pump prices. Especially as California giked up labor costs by raising its minimum wages, which of course is being passed on to the consumer. So you need to do a bit more work.
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