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Title : Uber Is Top Threat To Oil -- Not! -- March 18, 2018
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Uber Is Top Threat To Oil -- Not! -- March 18, 2018

This still remains one of my favorite posts. From March 29, 2016, with updates -- "Uber is top threat to oil  -- Dennis Gartman. "

Hold that thought.

Mark Perry doesn't miss much when it comes to statistics and charts, but it looks like a reader spotted something he missed.

Look at this chart (from Mark Perry):

It is/was easy to note that "ride-hailing" calls are increasing exponentially while NYC taxi calls have plunged significantly.

But now getting back to Dennis Gartman.

Look what a reader noted: it wasn't the rise of "ride-hailing" and the decline of the yellow taxi. The reader noted that in 2014, there were approximately 15 million taxi fares. Four years later, 2018, the number of taxi fares + ride-hailing surged to over 25 million fares. 

This raises a lot of questions:

• to what extent are these new public transportation riders; 
• where were the losses (other than yellow taxis?)
• • ditching public transportation like light rail, subways, buses?
  • ditching driving their own cars?
• how is this affecting NYC's overall economy as more folks get out and about
• has gasoline demand increased along the East Coast corridor -- from Washington, DC, to NYC, to Boston, as folks ditch public transportation to take private autos?

By the way, there was a post fairly recently that suggested folks were giving up public transportation for ride-hailing services. 

http://ift.tt/2dZyQXu

Thus Article Uber Is Top Threat To Oil -- Not! -- March 18, 2018

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