The EIA just released a charming stat, pointing to America’s disdain for distillate fuels. Inventories came in at an astonishing 10.5 mill.
What the fuck.
Either we’ve become a land of Netflix watching hermits, driving to and fro in electric automobiles, or something is wrong with the picture.
The weather was sublime this past month. Holiday shopping season was in full effect and gasoline is cheap as fuck.
Pray tell me, how does one simply build 10.5 million barrels of gasoline in a single month?
I’ll wait for your response.
Oil is getting poleaxed.
Isis is flooding the market?
Unless they’re working at a Valero refinery, no
Too much capacity?
“we’ve become a land of Netflix watching hermits” does sound like a possibility. But it’s hard to judge such trends in the nation as a whole. Seems like there is a lot of traffic where I live, but that might not be typical.
@frog I travel a lot, I visit 2-3 different states every month. Traffic is bad everywhere, not just where you live.
SOLVED! $AMZN drones don’t use gasoline!!
Fake numbers
Makes no sense, why would there be more capacity? I don’t see any less cars on the road, so either they are producing more gasoline ,cars are suddenly more fuel efficient, or this data is wrong. No one is driving any less.
@vale, which cities are the worst?
I fly mostly into regional airports and although traffic flows for the most part, roads are packed.
In the miami area it’s been bumper to bumper everyday ,
Tesla did it
My wife loves her model s. It is the only car she wants.to drive now.
Oil for twenty doll hairs. Come soon.
Remember those oil container ships lined up outside of Galveston in Nov?
Refiners made their winter shit gas from that. WTI is still too expensive to buy and trade with the Mexicales fire their heavier crude.
Those nasty, soot barfing, NOXious Volkswagon TDI’s are so efficient they actually make fuel rather than consume it.
You heard it here first.
Everyone is traveling about via hover board.
We need a good refinery fire.
We have been hurricane damage naive the past couple years it feels like. I remember when my ALJ go shut down a few years back. Of course I lost money.
Maybe unemployment really isn’t 5%. Nah. Government doesn’t lie.
Oil and Global Commodities have been used for financing since my Shanghai Copper Bubble started in 2009. Bubble Popped around the SPX was hitting 1755ish. I have no idea why EVERYONE was buying in 2014 and 2015 with Oil Inventories building to 80 year levels with global demand failing off the cliff. Without Speculators using commodities to finance other ventures, there is no demand, just one Ugly Ugly Bubble. Oil going to 30 and Copper going under 2.00…oh oh and SPX should be 577ish when we finally shake out. Bubbles Suck.
Walking so they can count steps on their stupid Fitbit Xmas gift before they wrap it around the handlebars of the dusty exercise bike they got last year.
Those Fitbits (and all of the others) are pretty lame (and inaccurate re: HR per class action). Just another fad that will fade but it is fun to watch the gullible and the marketing machines in action.
It looks like the vast majority of people buying this stuff are in their 20s and 30s. Why would they need to know this info as well as the other junk?
It’s the folks in the nursing homes who really need them.
Then why is Macy’s and Nordstroms trading like shit. Something doesn’t work out here. Mainly, people don’t have jobs so they are not driving their cars and not realizing the savings.
Saving it for war with iran, n korea?
Nothing adds up – can’t believe FED RAISED RATES when world economy is about to collapse with commodities reaching decade low prices. U.S. & Europe are stupid – we take ME refugees – ask nothing from 5 richest ME countries & we take all their crap from them. House of Saud intent on destroying world financial markets – they always were & always will be – time to call a spade a spade. Time for U.S. to break relations with the whole damn lot of them….Everybody must be walking or bike riding everywhere anyway. Gear up the wells & import NADA.
Maybe the Fed thinks the world economy is not about to collapse? Who knows? There must be some way to make the information available to the public add up, despite many things being hidden from public view.
As for the ME, it’s the source of income for military defense contractors and weapons manufacturers, who have donated to Congress members, expecting and getting a high ROI– something the rest of us can only dream of at this point.
Blame it on Bush, the O economy is doing GREAT. He said so himself.
Brings me to tears.