1. Looks like my Mom was right. Americans could only handle 4-6 weeks of lockdowns. Remember this recovery in gasoline use is happening before vast majority of places begin to formally reopen. 
2. At the bottom during week ending April 7, gasoline use was down 46% from early March level. Last week it was down 29%. So, we have now recovered 17 percentage points from the bottom. Again, impressive considering all the formal SIP orders around.
3. My very contrarian estimate of a few weeks ago of a recovery back to down 20-25% by mid-May looking pretty good right now. Might even be a bit conservative.
4. If this trajectory continues then we cannot keep 50% of ethanol production in the US shuttered for very much longer. Ethanol stocks dropping rapidly based on this week's ethanol production report.
5. Ethanol prices have recovered from late March record lows, but I am guessing that current price levels are not high enough to bring production back very quickly. Hard to estimate how much incentive needed to increase ethanol production in the near future.
