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Data: Descartes Labs; Chart: Axios Visuals

Driving keeps going back up as more states reopen their economies, according to the latest data from Descartes Labs.

How it works: Descartes Labs has created a "mobility index" based on geolocation data derived from phones and other devices reporting throughout the day, calculating the maximum distance moved from the first reported location.

Flashback: The index two weeks ago was at 44.

Why it matters: How quickly people resume driving — and flying — will influence how quickly and robustly the oil industry recovers from its historic collapse in April.

  • Longer-term trends, such as how permanent working from home and flying less becomes, will naturally take more time to suss out.

One level deeper: Energy Department data published Thursday also shows gasoline demand going back up.

  • However, the biggest news of that release was the arrival of a bunch of Saudi Arabian oil, which sent crude inventories jumping, as seen in this chart by Bloomberg's Javier Blas.

Go deeper

Michigan board certifies Biden's win

Poll workers count absentee ballots in Detroit, Michigan on Nov. 4. Photo: Salwan Georges/The Washington Post via Getty Images

The Michigan Board of State Canvassers certified the state's election results on Monday, making President-elect Joe Biden's win there official and granting him the state's 16 electoral votes.

Why it matters: Republican Party leaders had unsuccessfully appealed to delay the official certification, amid the Trump campaign's failed legal challenges in key swing states.

Biden to nominate Janet Yellen as Treasury secretary

Photo: Photo by Alex Wong/Getty Images

President-elect Joe Biden is preparing to nominate former Fed Chair Janet Yellen as his Treasury Secretary, four people familiar with the matter tell Axios.

Why it matters: Yellen, 74, will bring instant economic celebrity to Biden’s team and, if confirmed, she will not only be the first female Treasury Secretary but also the first person to have held all three economic power positions in the federal government: the chair of Council of Economic Advisers, the chair of Federal Reserve and the Treasury Secretary.

3 hours ago - Podcasts

Bob Nelsen on AstraZeneca and his plan to revolutionize biotech

AstraZeneca and the University of Oxford on Monday reported promising efficacy data for their COVID-19 vaccine, which has less stringent storage requirements than the Pfizer and Moderna vaccines and may be distributed earlier in developing countries.

Axios Re:Cap digs into the state of vaccine and therapeutics manufacturing with Bob Nelsen, a successful biotech investor who on Monday launched Resilience, a giant new pharma production platform that he believes will prepare America for its next major health challenges.