As US gasoline prices hit records on almost a daily basis, an increasing number of motorists are following a radical driving technique designed to eke out every last mile from a tank of fuel.
Known as "hypermiling", the method can double mileage, even in gas-guzzling vehicles that would normally use about 11.8 liters per 100 km.
Hypermiling includes pumping up tires to the maximum rating on their sidewalls, which may be higher than levels recommended in car manuals; using engine oil of a low viscosity; and the controversial practice of drafting behind other vehicles on the highway to reduce aerodynamic drag - a practice begun a few years ago by truck drivers.
The price of gasoline - which hit a record of nearly $3.61 per gallon on Tuesday, according to travel club AAA - has rapidly emerged as the public's biggest economic concern.
Gas prices are a "serious problem", ahead of jobs and healthcare, a poll released on Tuesday by the Kaiser Family Foundation showed.
Wayne Gerdes, a former nuclear plant operator from Wadsworth, Illinois, and the originator of hypermiling, said he gets 5.9-3.4 liters/100 km out of his Ford Ranger pickup truck, about doubling its official fuel consumption of 9.4 liters/100 km.
Gerdes, 47, said hypermiling has saved him $15,000 in fuel since he began the technique after the attacks of Sept 11, events that convinced him that US national security was being undermined by its dependence on oil from the Middle East, and motivated him to reduce his own fuel consumption.
Tracking the Dow on wednesday,30/04/08.
9:30am-- U.S. economy expanded by a larger than expected amount, first quarter GDP rose by 0.6%.A 30.0 points Gaps-up.
10:30am--1st hour into trade,the GDP deflator -- an inflation measure -- rose at an annual rate of 2.6%.Nonfarm private employment, showed an increase of 10,000 jobs in April, easily beating the consensus.(H:,900+L,:830)/2=,865(MAV).No sign of covering the gaps.It's hoovering above MAV.There's a spin-BUY.
11:30am--Sell,toppish bear spin seen.
12:30pm--(H:,950+L:,830)/2=,890(MAV)Index too near the MAV and flat.The stock market has been heading sideways.Wait to gauge further.
1:30pm--The stock market is slowly drifting toward session highs. Market breadth is postive. Volume is average, but will pick up after the FOMC announcement.Look to SELL ON NEWS.
2:30pm-- The FOMC just announced it cut the fed funds and discount rates by 25 basis points. This leaves the fed funds rate at 2.00% and the discount rate at 2.25%.Saw the 2 graveyard dojis formation.There are Triple Tops.Open and shoot to sell(short position).
3:30pm--It's a YouTube - Kamikaze Attacks, ...Mayday!..Mayday!...Helicopter Ben being hit.We are 'in-the-money".Close position.
4:00pm--The closing is near day's low with another long-samurai sword,it's the YouTube - Original American Ninja Trailer
The seventh consecutive rate cut by the central bank to combat the growing threat of a recession brought on by a deep housing slump and credit crisis did not augurs well on Wall Street.Fed Chairman Ben Bernanke and his colleagues said in their statement explaining the decision that "economic activity remains weak" with subdued spending by businesses and households. "uncertainty about the inflation outlook remains high," adding that it would be necessary to "continue to monitor inflation developments carefully."So farewell to this last cut is the deepest.The Wednesday "graveyard doji" is lying on the Bull Pivot/MAV and it's dangerous!
YouTube - First Cut is the Deepest - by Rod Stewart
Can you beat me:-my hit 860 targets--http://www.unisoft-technologies.com/games/crusader/index.htm