Transport spending plans based on oil at just $50

A government document meant to underpin future UK transport policy is based on an oil price of $50 a barrel – about half the current level, raising serious questions about the logic of resulting spending commitments.

The report, Road Traffic Forecasts for England 2007, was drawn up by economists at the Department for Transport to model trends in road traffic up to 2025. Published just two months ago, it is being used to shape UK policy on roadbuilding spending, traffic congestion and carbon emission over the next two decades. But the soaring price of oil casts doubt over the report