The Car Is Staging a Comeback, Spurring Oil’s Recovery


The Car Is Staging a Comeback, Spurring Oil’s Recovery

That headline was from Bloomberg, and if you read the article, it reflects what you have been reading in Parking Today. People are askewing mass transit and driving their cars and also parking them. A driver in Korea noted that he was going back to the subway, BECAUSE HE COULDN’T FIND A PLACE TO PARK. If you are in the parking business, this is not a bad thing.

All the Strum und Drang (look it up) we have been hearing from the oil industry seems to have lessened, as increased driving has affected the gasoline usage:

Gasoline demand is rebounding, suggesting that the car — at least for now — is making a comeback. As lockdowns ease and parts of the world reopen for business, driving has emerged as the socially distant transportation mode of choice and is offering some near-term relief to an oil market fresh off its worst crash in history and reeling from an unprecedented collapse in energy demand.

Wow, now if we could get the recalcitrant governors and mayors to allow us to open up, the parking business should come back relatively quickly. It won’t be perfect, but better than most have predicted.

Naturally our betters in the media have to turn lemonade into lemons. The increase in auto use will increase global warming and the end of life as we know it. Wow!


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John Van Horn

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