Reply #38: Everywhere.

[sulphurdunn]

Consider that consumption is expected increase this summer and throughout the rest of the year, but not by much. Therefore, $4 a gallon gasoline at this date is obviously a consequence of speculation that has been decoupled from traditional notions of supply and demand economics. That implies serious market manipulation by someone with lots of money.

Global oil consumption declined by 1.2 million b/d or 1.7%, the largest decline since 1982. (2010).

http://www.bp.com/productlanding.do?categoryId=6929&contentId=7044622

http://seekingalpha.com/article/210551-u-s-per-capita-oil-consumption-plummets