Monday, July 28, 2008

You mean markets work?

Driving is down 3.7% since last year, according to the Wall Street Journal. H/T Mitch. I wonder how much gasoline usage might be down. I "googled" it and got contradictory results, and I'm puzzled to think how people might have an accurate estimate of driving miles despite the government having no access to our odometers, but they cannot accurately estimate gasoline usage, despite the fact that the government collects a tax on every gallon of gasoline sold.

Say what?

Update; here is the EIA's estimates of gasoline usage since 1945. Looks like, if I'm reading the charts correctly, that gasoline usage stabilized in the past two years, and is now looking to drop about 3% or more.

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