I can see the demand destruction, but for now I remain doubtful that it is big enough to cause a lasting decline in the price of gasoline. I would not be surprised if the price starts heading higher again. Crude oil prices have already started heading higher...
In time, everybody will have the Patriotic, PPPP card. In time, the FED can send credits to those who need it. Paying for your Section8 housing. Your iPhone, Good ol Food assistance, Child Day Care, Medical payments….and this will provide ...
On the 5 year horizon, we should see a shift to higher fuel economy vehicles and PHEV's, perhaps some conversion of light trucks to CNG, further replacement of heating oil, a reduction in jet fuel and further replacement of gasoline by ethanol(10E to 15E). These changes could account for...