Americans are driving 4% less now than they were a year ago, Rosenberg writes, while energy use in inflation-adjusted terms has dropped 2% - an event he calls "extremely rare."
Wednesday, August 6, 2008
Ah, Oil Story again
Real quick as I'm on the road again. Traveling around Bangkok for last few days. A new business is mushrooming all over Bangkok. Workshop converters banners to NGV and LPG are all over the places. Talked to an old friend, converter his BMW to NGV two years ago. You can really see the consumption habits change even those are loaded. Will catch up soon. Crude oil broke below 120 is a good sign for consumers and airlines but bad news to economy. CNN has a story.