The absurd general reporting had me half convinced 'efficiency' was the key as in better mpg. But it is not the primary reason. Obama crushed family incomes and real gasoline prices were high.
The good news is Progressive have not yet completely crushed us. Miles driven is actually up today. Unless of course you live in California with their tax this tax that and magically the earth will not be saved. For it is bigger than a state, even if follow a primitive dogmatic secular Progressive religion.
Vehicle Miles Traveled: A Structural Change in Our Behavior
January 21, 2015
by Doug Short
Clearly, when we adjust for population growth, the Miles-Traveled metric takes on a much darker look. The nominal 39-month dip that began in May 1979 grows to 61 months, slightly more than five years. The trough was a 6% decline from the previous peak.
The population-adjusted all-time high dates from June 2005. That's well over nine years ago. The latest data is 8.68% below the 2005 peak, fractionally off the -9.22% post-Financial Crisis low in March of 2014. Our adjusted miles traveled based on the 16-and-older age cohort is about where we were as a nation in March of 1995.
Here is a closer look at the series since 2000. We can see that the decline leveled off in 2010, rolled over in 2011, leveled off in the first half of 2012 and then rolled over again.
Here is the same population-adjusted chart, this time with the total population for the adjustment. In the total-population adjusted version the latest data point of -6.9%, a bit off the -7.7% post-recession low seven months earlier.
With great anticipation the patriarch did wait. A biblical snow storm could deliver yet more grand babes, in its wake.
So with impish grin to his keep did he retire. Surely the wine bottle of Kung #$%$ Girl would help spark a (vigorous) fire.
Height of storm in morning light, Dr. Siegel he did invite.
Thy signs good Doctor, are more grand babes nigh?
Good Doctor so honest and true, divine further if you knew, a fine bottle of wine was added by Stu?
Good Doc Siegel, Mr. Varney thanked with a twinkle.
Not so is the Cuckoo of spring a word of fear, unpleasing to a married ear.
I told old William, but he never listens.
Given the Obama state of the world, a 3.3% rock hard dividend isn't so bad. Especially as it goes with a counter inflation angle. CAT is much better than a TIP.
true. So the real question is why don't Progressives - as crazy as she makes me Feinstein does show ethics and responsibility to a different drum - END IT?
No matter what Mad Who does Obama will just do his realpolitik Progressive smirk.
Same is true of Grassley the 'conservative' sustaining the most devastating, irrational and dangerous special interest ever - defective corn ethanol under the authority of Progressive Obama.
Ah but 'Conservative' can be made to sweat if we keep up the heat.
Progressive just smirk our voters don't have a clue and do not care. So there!
Americans don't care what we call it. Those that are aware just want mature leaders to end it. NOW!
The Progressive world and the towering dollar are splattering the earnings season. MOre reason to move corporate headquarter to places like Ireland.
But I will keep nimbling at CAT. Strong balance sheet. Superior culture and products. They pay the dividend Progressive rage or rational administration.
So now is the time to do your dance!
GDP can you get into the current century?
Ben Franklin. we call him first American for every reason, was a science based conservationist.
Right now Progressive are imposing defective corn ethanol as a cleaner gasoline. The reality is local air quality is now full of chemicals we know to be very dangerous and not addressed by catalytic converter,
IN fact modern fuel injected internal combustion engines are so efficient the catalytic converter is only needed during the first fe minutes of warm up. In fact, some technology to pre warm the engine would be more efficient and clean to a properly functioning ice.
Yes of course regulation is necessary. There are perverse incentives in economics which must be managed.
So we are to trust Obama ravaging the environment with defective corn ethanol so he can place 1% of a barren wilderness of limits to vast wealth creation, job creation and national security? What we learned from Macondo, like other massive oil spills? It is not forever nor actually 99% very long. This however does not make it acceptable
My last post was an attempt to quantify this weird mental ossficata progressive condition raging wildly.
Macondo was enabled in no small measure by inept at best and most likely corrupt government regulators.
If Progressives will over rule their regulators at Fannie and FreddieMac buying up all the subprime mortgages, what good are all their regulations?
In fact if Obama gets away with this deception it is just a matter of time. At some point the resources will be so valuable Progressive will break their own 'rules'. It is what you Progressive do.
What American demand is honesty so we can have rational maturity in policy. The only way to get there is a long Progressive time out.
By BRET STEPHENS - Excellence as always
about what happens to countries that take their economics lessons from the op-ed page of the New York Times.
No cute or snarky Progressive component. Bret is an earnest and serious American.
So this is observation harnessed to reductionist logic which yields a cogent opinion.
The real problem is that the Progressive collectivists; like nyZt, simply jumps to the next realpolitik myth. nyZt never comes back around and admits their coverage of the American oil and gas renaissance was 180 degrees wrong. That editorial judgement if not at least restrained enough, was clearly lacking. Which is necessary if they want to serve their customers and survive in a competitive market place of information.
What we are dealing with is an amorphous collective of irrational secular religion. One which does not believe in personal character or virtue. Driven by towering hubris in self delusion and the protective mechanism of situational ethics shielded by the protective mechanism of greater good emotional superiority. For actually governing successfully is clearly no longer relevant.
The scary things is that Obama has used this debilitating mental ossification progressiva; in startlingly successful degree, to obscure not governing for six years. So no surprise the talk of the heads is the gloating snark of a childish punch line a man would have put away long ago.
As usual Reagan provides the model of how a serious man employs good, rather than snarky or nasty humor.
'I will not use my opponent's youth and inexperience against him'. Born of a clear rational vision and a good heart.
Oil Forecasters Should Live for Today
Indeed, in a paper published in 2010, economists Ron Alquist and Lutz Kilian found that simply forecasting no change in oil prices was much more accurate than professional survey forecasts across all time horizons from one month to 12 months out. Their work also showed that survey-based forecasts tend to be less accurate than those derived from the prices of oil futures.
This is what environmentalists want because they know that if the pipeline shuts down, it must by law be dismantled. Since the pipeline is the only way to get large quantities of Alaskan oil south, shutting it down means closing to exploration one of the world’s greatest repositories of hydrocarbons.
Purposeful destruction of economic growth and national security by nothing but deception. There is no science involved in this ignorance.
Truth is the technology is the new age. Tiny foot print and amazing records of pipe line safety. Plus the majors all have BP fresh in top of mind.
Progressive are relentless as this is their religion. they go piece by piece and then hide behind saving the earth and wild places.
A traditionalist assumes it is possible to have a rational discussion with them. They are always demand a conversation. But based on spacious assumptions of their altered reality being assumed true. Disagreement based on science with emotions is uncivil.
There is no cure. The only options is a long term time out from power.
For the health of America it is critical we get a Democratic Party back. Right now it is a Progressive collective whipped into lockstep by two very old people. Two very old people who crashed super majorities into the lowest portion of the Congress in generations. Yet there they are elected back into leadership.
Regular Alaskans need the solid jobs. The government needs the revenue. Our economy needs the jobs and the national power and security.
Truth is the little bit of warmth energy the trans Canada introduced result in more critters. The safety record is exemplary.
This dark age of environmental Progressive Luddites who are at war with reality and all war is deception, needs to be packed off to the dust heap. Americans are good stewards of the lands, we do not worship the machine of creation.
Washington’s energy debate has been focused on President Obama ’s endless opposition to the Keystone XL pipeline, but maybe that was only a warm-up. His new fossil fuel shutdown target is Alaska.
President Obama announced Sunday that he’ll use his executive authority to designate 12 million acres in Alaska’s Arctic National Wildlife Refuge (ANWR) as wilderness, walling it off from resource development. This abrogates a 1980 deal in which Congress specifically set aside some of this acreage for future oil and gas exploration. It’s also a slap at the new Republican Congress, where Alaska Sen. Lisa Murkowski has been corralling bipartisan support for more Arctic drilling.
The ANWR blockade also seems to be part of a larger strategy to starve the existing Trans-Alaska pipeline, the 800-mile system that carries oil south from state lands in Prudhoe Bay. ANWR occupies the land east of that pipeline. The Interior Department this week will release a five-year offshore drilling plan that puts vast parts of the Chukchi and Beaufort Seas—the area to the north of the pipeline—out of bounds for drilling. This follows an Administration move in 2010 to close down nearly half of the 23.5 million acre National Petroleum Reserve-Alaska (NPRA)—the area west of the pipeline.
Federal agencies have also been playing rope-a-dope with companies attempting to drill on the few lands that are still available. ConocoPhillips has been waiting years for permits to access a lease it purchased in NPRA—and the Administration is this week expected to make that process even harder. Shell has spent $6 billion on plans to drill in the Chukchi and Beaufort, only to be stymied by regulators.
By Terry Wade and Anna Driver
Only 1.6 percent of world's oil production at risk at $40 : WoodMackenzie Reuters
Exclusive: New U.S. well permits rise slightly in December after crude oil plunge Reuters
Oil near six-year low; Brent trades at par to U.S. crude Reuters
UAE says OPEC will no longer shore up oil price AFP
Oil dives close to six-year lows; European stocks rise AFP
HOUSTON (Reuters) - Collapsing crude prices are confronting scores of smaller U.S. oil producers with the grim choice of either shutting older high-cost wells or burning through cash in the hope of riding out the downturn.
As oil prices fell by more than half over the last six months from more than $100 per barrel, the U.S. oil industry responded by slowing its blistering growth and dialing back expansion plans.
Now, with U.S. crude around $46 a barrel, operators are already closing some small old wells, known as strippers, and tens of thousands of similar wells are on the verge of losing money. A further slide could, by some estimates, idle an equivalent of up to 2 percent of U.S. supply, slowing overall output growth more than expected or even leaving it flat.
Vast efficiency gains also mean that more oil can be squeezed from fewer new wells. For example, EOG Resources Inc said in November that output of new fracked wells in the Eagle Ford shale of Texas was up 39 percent compared with wells sunk at the start of 2014.
"To me, it's going to be extremely difficult for any U.S. production to be cut significantly," TMR's Lasseigne said about the possible impact of well closures.
NO one knows. It is all new and the technology is leaping.
But Obama had the industry killer in his speech. Liquid alternative fuel. The loser corn ethanol rather than the winner fuel cell. Two more years of mental ossification Progressiva. Please no Hillary or lunatic Warren.
I like KKR. Deals coming into harvest. But the new deal are being bid aggressively. I am more comfortable in this space with ARCC. Strong balance sheet which would benefit on a duration gap as our economy improves. In the mean time they are being very defensive with asset quality. Street of course hates no growth, so from time to time it can be bought below book.
BTU is interesting. HIgh quality and around the world asset base blue chip of coal.( As you know) Problem is of course international BRIC Progressive politicos have fashioned real messes. But India is making pro-growth reforms. coal is their energy.
It will be around and one day shine. The dividend is covered by EBITDA. I think they will just keep paying through the trough. In which case I like BTU very much.
America is the only economy in the world which can pull Europe, Japan and China out of the ditch. Certainly Europe spending rather than undertaking economic reforms necessary to put their younger generations to work, is not going to create demand. How soft or sudden their rendezvous with reality is dependant on American economic growth rates and demand.
Low gasoline prices are nice. BUt we all also understand this is a manipulation by SA. Their agenda is to disrupt American shale production and therefore by definition once again make the oil markets less stable.
It is perhaps strange but I believe the all clear signal for BTU will be America once again creating more small business than is being destroyed. Problem is the 'elite' press believes the moonglow and sparkle dust economy coming from Obama. You can really see the depth of the mental ossification progressiva in the Charlie Rose state of the union show. It Hillary wins and all this self delusion is transferred to her? Another four years of BTU slumbering and just getting by.
Best of Fortune
California’s Scrambled Eggs
The state’s new chicken-coop law is hitting human beings hard.
Egg prices are soaring in California, where the USDA says the average price for a dozen jumbo eggs is $3.16, up from $1.18 a dozen a year ago, and in some parts of the state it’s more than $5. The Iowa State University Egg Industry Center says retail egg prices in California are 66% higher than in other parts of the West. National wholesale egg prices also climbed nearly 35% over the 2014 holiday period, before retreating.
Progressive for the little guy? With over 20%+ of all Californians in poverty, more than any other state, this type of regulation should be done in a mature responsible way. Instead we get rich white Progressives doing their thing.
Now actually I agree we need to improve the conditions of animals in intensive agriculture. But we also have to be mindful of how these things hurt wage earning Americans.
NO question this could have been done responsibly. BUt responsible is the one thing Progressives never are.
Which is exactly the only reason the naturally richest state in American has the most poor people.
Oh and a big increase in the gasoline tax was added too. Wonderful.
Check every 'recovery' of the last 70 years. The only thing comparable is FDR and the new deal.
The closest equivalent to unemployment measure then is the u6.
This whole silly thing about WW!! creating demand. Actually WWII destroyed years of economic output while pent up real consumer demand.
It was the ability of the American economy to smoothly transition from wartime to peace time which unleashed the economic miracle of the 1950s. That was because American industry was already making post war plans by 1944 when it was clear the good guys were going to win.
BUt back then the Supreme Court often stood up to FDR and said no. Democrats had enough character to say no to packing the court.
Unfortunately our Supreme Court with Roberts did back flips to let Obamacare through. Putting the administrations argument back on its ear that this was a tax. Given the slow motion implosion America would have been much better served if Roberts blocked it and said bring it back as clearly the tax, which it is.
Rather than allowing Progressive Grubering to work. Roberts should have put it back in the public sqaure with clear light. See if the Progressives could still get it through - even with every ugly political trick and process abuse.
ABout the last time I watched Cramer he was going on about how the FDR economy slid back into recession when deficit spending was curtailed. That is all fine and dandy in a Progressive bottle.
Truth rediscovered by WWII was the American economy had far more potential than any other economy in the world. Government needed to get out of the way and encourage growth rather than a New collectivist deal.
FDR did have the good judgement to get out of the former GM CEOs way when it came to pre-war planning.
Willie of nothing but moonglow and sparkle dust will decide ideologues or not.
Mad Who here! BAck to casting the Fox Business Midsummer Nights Dream.
Mad Who not wishing to be left out, Philostrate will be. A natural even organic part.
Mr. Varney knows well this part by experience
Egeus /iˈdʒiːəs/ is a character in A Midsummer Night's Dream, the comedy by William Shakespeare. He tries to keep his daughter, Hermia, from marrying Lysander, by force if necessary.
In original performances, the actor for his role probably played the part of Philostrate as well.
Philostrate decides, not.