I have been closely monitoring gasoline supply and consumption data since early 2005. Today I decided to calculate how much money in excess of 2007 levels Americans spent on gasoline over the last 9 months or so:
>From December 17 2007 to October 13th 2008, Americans spent an additional $90,049,302.042.00 on gasoline compared to the same period one year earlier. What a shame it is that more Americans didn't have the ability to utilize alternative forms of transportation and keep that $90bil in the economy when we really needed it! By my estimates based on the projected worldwide supply deficit earlier in the year (6%), had the average American motorist been able to replace one day of driving every 16 days with a bicycle trip, the oil price bubble would have popped a lot sooner. The cost savings alone from cutting back by 6% would have been over $25 billion - and that is before you factor in the savings due to bringing supply and demand back into balance. Sources of data: Prices: http://tonto.eia.doe.gov/dnav/pet/xls/pet_pri_gnd_a_epmr_pte_cpgal_w.xls Consumption: http://tonto.eia.doe.gov/dnav/pet/xls/pet_sum_sndw_a_epm0f_vpp_mbblpd_w.xls _______________________________________________ Bikies mailing list [email protected] http://lists.danenet.org/listinfo.cgi/bikies-danenet.org
