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Saturday, May 31, 2008

Feb/Mar Gas Supplied

An update with the latest two month figures. Last months Jan/Feb totals were about equal to '96 figures. Feb/Mar totals are much closer to '95 figures. We probably will get there this year.

Does anyone want to vote for '94 levels by the end of '08 yet? Check the figures here.

Total crude and petroleum supplied is falling too. For the first three months of 2008, the totals were between 2003 and 2004 levels. But if you look at March figures, they are a lot closer to 2003 than the previous months' figures....

So a lot of state governments are earning ever less on gas taxes. Makes me think that the feverish talk about raising those taxes is more about revenue than concern over the environment! Let me just refer you to the Rockefeller Inst. May flash report (a preview of Q1 2008 data due in June). As they write:
For the states reporting so far, the overall level of sales tax collections fell slightly – the first time such revenues have not grown in six years.
Sales tax revenues only went negative one quarter in the 2001-2003 recession, and that was at the depth in first quarter 2002. You can download a spreadsheet with that data here. The figures adjusted for legislative changes and inflation really tell the tale, and you can download a spreadsheet with those figures here.

The data series "US total gasoline retail deliveries by all R&G" is a smaller subset of "US weekly finished motor gasoline product supplied". You'll notice that the retail delivery figures are 55,155,000 gallons per day for March of '08. This equates to just 1,313,200 bbls per day, whereas the US consumes about 9.25 million bbls per day, on average.

Here is the larger data set, which is presently showing 9.373 million bbs per day, well above 95-'96 levels. Doesn't look to be going backwards yet, either. http://tonto.eia.doe.gov/dnav/pet/hist/wgfupus2w.htm
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