Home > U.S. Gasoline Consumption Plummets By Nearly 75%
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U.S. Gasoline Consumption Plummets By Nearly 75%

gasoline pricesJeff Nielson: Regular readers are familiar with my narratives on the U.S. Greater Depression, and (in particular) some of the government’s own charts which depict this economic meltdown most vividly. The collapse in the “civilian participation rate” (the number of people working in the economy) and the “velocity of money” (the heartbeat of the economy) indicate an economy which is not merely in decline, but rather is being sucked downward in a terminal (and accelerating) death-spiral.

However, even that previously published data, and the grim analyses which accompanied it could not prepare me for the horror story contained in data passed along by an alert reader. U.S. “gasoline consumption” – as measured by the U.S. Energy Information Administration (EIA) itself – has plummeted by nearly 75%, from its all-time peak in July of 1998. A near-75% collapse in U.S. gasoline consumption has occurred in little more than 15 years.

Before getting into an analysis of the repercussions of this data, however, it’s necessary to properly qualify the data. Obviously, even in the most-nightmarish economic Armageddon, a (relatively short-term) 75% collapse in gasoline consumption is simply not possible. Unless we were dealing with a nation whose economy had been suddenly ripped apart by civil war, or some small nation devastated by a massive earthquake or tsunami; it’s simply not possible for any economy to just disintegrate that rapidly, without there being some ultra-powerful exogenous force also at work.

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So how can this raw data, produced by the government itself, be explained? To begin with; the government chooses to measure U.S. gasoline consumption in a very odd manner: by measuring the amount of gasoline entering the domestic supply-chain rather than by measuring actual consumption at the other end of the supply-chain – i.e. “at the pump”.

Why does the U.S. government, which (among other things) leads the world in the manufacture of statistics not produce any simple/direct measurement of gasoline consumption? How can the St. Louis Fed produce nearly 100 different charts on gasoline and diesel prices (for any/every price-category which can be imagined by these statistics geeks), but not a single chart on gasoline supply/demand?

There are several reasons for this unbalanced, anomalous, and simply absurd statistical methodology. First of all; the reason why the U.S. government produces a near-infinite number of charts on prices is because prices are what the Gamblers (i.e. bankers) use as the basis for their $100’s of trillions in gambling in the rigged casinos which the bankers call “markets”.

While supply/demand data is of utmost importance in the real world; the banker-gamblers don’t dwell in the real world. As regular readers already know; their derivatives casino, alone, is roughly twenty times as large as the entire global economy. To the bankers; the “real world” is nothing but fodder for their insane gambling.

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  1. DDearborn
    May 28th, 2014 at 13:59 | #1

    Hmmm

    SO once again basic economic law of supply and demand has been suspended by the elites to protect profits. Gas consumption down 75%, we are now a NET EXPORTER of oil and instead of going down prices are going up. Just like gold and silver; record demand for 4 street years, dwindling supply Trillions more dollars flooding the world markets, massive instability and continued wars and still they goes down.

    To suggest that the oil, gas, metals markets are rigged is doing the current state of criminal manipulation an injustice.

  2. Ben
    May 27th, 2014 at 23:35 | #2

    This reinforces the picture being put together by other pieces of the puzzle…namely King (maker of Candy Crush) and Twitter stocks tanking; meaning people can’t even be bothered to play silly games and twit anymore. A 75% drop in gas consumption is just downright terrible news.

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