From Charles Hugh Smith:
A number of readers kindly forwarded additional data sources to me as follow-up on last week's entry describing sharply lower deliveries of gasoline. (Why Is Gasoline Consumption Tanking?
February 10, 2012)
The basic thesis here is that petroleum consumption is a key proxy of economic activity. In periods of economic expansion, energy consumption rises. In periods of contraction, consumption levels off or declines.
This common-sense correlation calls into question the status quo's insistence that the U.S. economy has decoupled from the global ecoomy and is still growing...
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More on energy:
This U.S. energy fact could blow your mind
Natural gas could finally be making a long-term bottom
What the "mind-boggling" declines in gasoline sales could be telling us