This is your chart of the day. If anything can explain exactly the sort of difficulties our economy is facing, this is it.
(Source)
All economic growth requires energy. This decline in energy use is the first such decline in the entire history of our energy records. Sure, there have been a couple of minor dips (back in the 1970’s), but nothing quite like this.
In this chart alone, there are three recessions visible: 1991, 2001, and the current one. It is only the current one that has resulted in a decline in oil use.
While I would expect this chart to be a lagging indicator, meaning that it will turn back up slightly after the economic rebound begins, I do not see anything in it yet to hint that an economic rebound has occurred.
Important! I want to remind you that I’ve switched over to this new Martenson Insider format for enrolled members. Because I will often be posting multiple entries per day, you should be sure to visit the Martenson Insider page to scan for other entries, as only the most recent one will display on the front page of the website.
by davos