Why Is Gasoline Consumption Tanking?

Friday, February 10, 2012
By Paul Martin

by Charles Hugh Smith

Gasoline deliveries reflect recession and growth. The recent drop in retail gasoline deliveries is signalling a sharp contraction ahead.

Mish recently posted some intriguing charts depicting a significant decline in gasoline consumption. Then correspondent Joe R. forwarded me this stunning chart of gasoline retail deliveries, from the U.S. Energy Information Administration: (EIA)

As Joe noted, this data is interesting because it is un-manipulated, that is, it is not “seasonally adjusted” or run through some black-box modifications like so much other government data.

Retail gasoline deliveries, already well below 1980 levels, have absolutely fallen off a cliff. Is the plunge inventory-related, i.e. are storage facilities so full that retailers are simply putting off deliveries?

The Rest…HERE

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