In November we learned that peak conventional oil occurred in 2006, per the IEA, the official arbiter of energy supplies. Today we learn that peak U.S. gasoline also occurred in 2006, according to the Associated Press. After falling for the previous four years, energy experts now expect gasoline consumption to continue falling, returning to 1969 levels by 2030.
Washington State Department of Transportation recently reassessed their gas tax revenue projections, which have been overestimating revenue for years, resulting in a long-term funding shortfall. The State gas tax and highway program are on a collision course with reality.