Daily Energy Report
US miles driven & gasoline demand, US oil inventories, China takes Canada oil, India expands LNG, Biden softens EV mileage, ESG funds finance oil, Solar PV expansion, and more.
Chart of the Day: US Miles Traveled Declined in January
Summary
The US Federal Highway Administration released January’s traffic data recently. It shows that miles traveled decreased in January by 0.83% year-over-year and 6.3% in December. Gasoline demand declined too month-over-month and year-over-year. However, both January numbers are subject to revisions.
Figure (1) above shows the trends in miles traveled in the US and gasoline demand.