Gas Prices Matter!
Supply and demand at work:
From the Federal Highway Association: http://www.fhwa.dot.gov/ohim/tvtw/08jantvt/08jantvt.pdf
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Supply and demand at work:
From the Federal Highway Association: http://www.fhwa.dot.gov/ohim/tvtw/08jantvt/08jantvt.pdf
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"Supply and demand at work"
You could also throw up a chart comparing the gasoline crack spread and refining capacity, but that would only prove that the supply of gasoline is not completely fixed for the summer. There is plenty(about 6%) of room to ramp up production.
Posted by: Jay | May 09, 2008 at 11:39 AM
those aren't huge numbers though; increasing in the South Gulf and statistically no decrease in the Midwest and Northeast... Given that prices are up 40-60% depending on the exact time and region, even the 3% reduction in miles driven we see in the West and Southeast is peanuts...
Posted by: thorstein veblen | May 09, 2008 at 09:46 PM