Even though Americans are driving more than ever before, they’re using less fuel to do it. Gasoline demand in the US hasn’t bounced back to pre-Covid levels, and for all kinds of reasons, it likely never will.

In the long run, that will mean relief from high gas prices. But the decline of fossil fuels won’t be quick — or painless. As the oil industry recalibrates to meet the new reality and seeks to maximize profits, we could see price spikes and periodic supply crunches.

Bloomberg journalists Lynn Doan, Chunzi Xu and Millie Munshi join this episode to talk about why gasoline use is trending lower, even as Americans pile on more miles in their cars. And energy analyst Mark Finley of Rice University's Baker Institute for Public Policy explains how diminishing gasoline use could impact not just consumers and companies, but US national security, and America’s relationship with China and the rest of the world. 

Learn more about this story: https://bloom.bg/3J8TBQt

Listen to The Big Take podcast every weekday and subscribe to our daily newsletter: https://bloom.bg/3F3EJAK Have questions or comments for Wes and the team? Reach us at bigtake@bloomberg.net.

This podcast is produced by the Big Take Podcast team: Supervising Producer: Vicki Vergolina, Senior Producer: Kathryn Fink, Producers: Mo Barrow, Rebecca Chaisson, Michael Falero and Federica Romaniello, Associate Producers: Sam Gebauer and Zaynab Siddiqui. Sound Design/Engineers: Raphael Amsili and Gilda Garcia.

Even though Americans are driving more than ever before, they’re using less fuel to do it. Gasoline demand in the US hasn’t bounced back to pre-Covid levels, and for all kinds of reasons, it likely never will.
In the long run, that will mean relief from high gas prices. But the decline of fossil fuels won’t be quick — or painless. As the oil industry recalibrates to meet the new reality and seeks to maximize profits, we could see price spikes and periodic supply crunches.
Bloomberg journalists Lynn Doan, Chunzi Xu and Millie Munshi join this episode to talk about why gasoline use is trending lower, even as Americans pile on more miles in their cars. And energy analyst Mark Finley of Rice University's Baker Institute for Public Policy explains how diminishing gasoline use could impact not just consumers and companies, but US national security, and America’s relationship with China and the rest of the world. 
Learn more about this story: <a href="https://bloom.bg/3J8TBQt">https://bloom.bg/3J8TBQt</a> 
Listen to The Big Take podcast every weekday and subscribe to our daily newsletter: <a href="https://bloom.bg/3F3EJAK">https://bloom.bg/3F3EJAK</a> Have questions or comments for Wes and the team? Reach us at <a href="mailto:bigtake@bloomberg.net">bigtake@bloomberg.net</a>. This podcast is produced by the Big Take Podcast team: Supervising Producer: Vicki Vergolina, Senior Producer: Kathryn Fink, Producers: Mo Barrow, Rebecca Chaisson, Michael Falero and Federica Romaniello, Associate Producers: Sam Gebauer and Zaynab Siddiqui. Sound Design/Engineers: Raphael Amsili and Gilda Garcia.

The Big Take from Bloomberg News brings you inside what’s shaping the world's economies with the smartest and most informed business reporters around the world. The context you need on the stories that can move markets. Every afternoon.

The Big Take from Bloomberg News brings you inside what’s shaping the world's economies with the smartest and most informed business reporters around the world. The context you need on the stories that can move markets. Every afternoon.

Big Take

Gasoline Starts Its Long, Slow Ride Down

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/e4100448-c3e6-4118-acc7-af9001808f79/transcript

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