Brent-Up Demand

Click to enlarge.

February 13, 2013
Econbrowser: Prices of gasoline and crude oil

But an increase in production in Canada and the central U.S. combined with a decrease in U.S. consumption has led to a surplus of oil in the central U.S.

$100 oil, less consumption, and a surplus? Bernanke's a miracle worker! That's why we pay him the big bucks!

I appear to have opened the sarcasm gates yet again. Why stop now? The Onion wrote the following 12 years ago.

January 17, 2001
Bush: 'Our Long National Nightmare Of Peace And Prosperity Is Finally Over'

WASHINGTON, DC–Mere days from assuming the presidency and closing the door on eight years of Bill Clinton, president-elect George W. Bush assured the nation in a televised address Tuesday that "our long national nightmare of peace and prosperity is finally over."

Mission accomplished!

Source Data:
St. Louis Fed: Brent / WTI