Gartman: The Biggest Threat To Big Oil Is Uber? Nope. The BIggest Threat To "Transit" Is Uber -- March 22, 2018

This is too good not to re-post, from this post just a couple of days ago:

Updates

March 22, 2018: also this -- a reader reminded me of this -- airport parking structures are losing money due to Uber. In The WSJ. DFW just spent a gazillion dollars on expanding / upgrading parking structures; local news articles already talking about DFW losing money due to Uber:

For many air travelers, getting to and from the airport has long been part of the whole miserable experience. Do they drive and park in some distant lot? Take mass transit or a taxi? Deal with a rental car?

Ride-hailing services like Uber and Lyft are quickly changing those calculations. That has meant a bit less angst for travelers.

But that’s not the case for airports. Travelers’ changing habits, in fact, have begun to shake the airports’ financial underpinnings.

Fewer people are parking cars at airports, using taxis or renting cars, according to a recent report from the National Academies Press.

Those trend lines are hurting airports, which depend on fees from parking lots, rental car companies and taxis as their biggest source of revenue other than the fees paid by the airlines. The money they currently collect from ride-hailing services do not compensate for the lower revenues from the other sources.

March 22, 2018: they must be reading Carpe Diem or the blog over at The Washington Post --

Falling transit ridership poses an ‘emergency’ for cities, experts fear.

Transit ridership fell in 31 of 35 major metropolitan areas in the U.S. last year, including each of the seven cities that serve the majority of riders, with losses largely stemming from buses, but punctuated by reliability issues on systems like Metro, according to an annual overview of public transit usage.

The analysis by the New York-based TransitCenter advocacy group, using data from the U.S. Department of Transportation’s National Transit Database, raises alarm about the state of “legacy” public transit systems in the Northeast and Midwest and rising vehicle ownership and car-based commuting in cities nationwide.

Researchers concluded that factors such as lower fuel costs, increased teleworking, higher car ownership and the rise of alternatives such as Uber and Lyft are pulling people off trains and buses at record levels.

Original Post

 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.

Go to the link at the top of the page for the rest of the post.