Oil prices have fallen due to rising US supply and stable US demand, while the US Highway Trust Fund faces insolvency despite increasing fuel tax revenues from lower oil prices. Supply increased worldwide and in the US and other non-OPEC countries excluding the US, while demand grew in emerging markets like China but declined in developed regions including Europe. The Highway Trust Fund remains nearly insolvent even as fuel tax revenues rise from falling oil prices.

1. Note: Through Jan 2, 2015
Source: NY Mercantile Exchange, American Automobile Association
Oil Prices Tumbling

2. Mainly Due to Rising Supply in the US
Source: EIA
2014 Change, 1000 b/d
Change in Supply Change in Demand
World 1,800 World 960
US 1,560 US 0
Non-OPEC ex US 310 Developed -240
Europe -120
OPEC -70
Emerging 1,190
China 370
Other Asia 250

3. Source: CRFB, CBO, DOT
While Highway Trust Fund Is Nearly Insolvent
In bn