[roccman]

So this is what the peak looks like.

[KillTheHumans]

$this->bbcode_second_pass_quote('roccman', 'S')o this is what the peak looks like.

[dinopello]

Looks like smooth sailing here on out!

[Cashmere]

Good find RM.

Can anybody insert one of those moving GIFs of the black silhouette of a guy jumping off a building, bouncing just slightly, and repeat?

[patience]

I read somewhere here that vehicle miles are down maybe 4%? I guess the sheeple are getting the message at the pump.

[Cashmere]

$this->bbcode_second_pass_quote('', 'I') read somewhere here that vehicle miles are down maybe 4%? I guess the sheeple are getting the message at the pump.

[NorseNomad]

I wonder how they calculate those numbers. I guess they are estimates based on gas consumption and ... something else?

Would be interesting to know.

[AgentR]

Law of large numbers really works well on this one, simply because there are so many vehicles, and so much fuel; and we know what kind of vehicles are driven where, and how much gasoline is used there. And you can spot check the numbers with existing traffic survey methods.

No reason to doubt their accuracy.

As much as I'd wish too.

*F*.

Three years of flatness.

Just.... *F*.

Wasn't really expecting that sort of effect for quite a while; disturbing to see it already having an effect on the macro scale.

[NorseNomad]

For the record, I didn't doubt the accuracy, just wanted information.

And I quite like the curve. Would be horrible if it just kept going and going and going and going... A cooldown may be just what the doctor ordered.

[TheDude]

Damn.

Americans drive 11 billion fewer miles in March

Love these figures:

$this->bbcode_second_pass_quote('', 'W')ASHINGTON (MarketWatch) -- With gasoline and diesel prices soaring to record levels, American drivers are cutting back sharply on the miles they travel, the Department of Transportation reported Friday.
Total vehicle miles driven fell in March by 4.3%, or 11 billion miles, to 246.3 billion miles, compared with the year earlier. It was the largest year-over-year decline in miles driven since the government began keeping records in 1942.
Americans drive more than 3 trillion miles each year. So far this year, cumulative miles driven are down by 2.3%.

[Tyler_JC]

I see this as great news!

Less oil consumption, fewer miles driven, and yet no zombie hordes.

America is getting the message and responding to incentives.

In 5 years that number will be down even more and we might be beginning to re-enter the world of sane commutes.

[Jack]

$this->bbcode_second_pass_quote('Tyler_JC', '
')Less oil consumption, fewer miles driven, and yet no zombie hordes.

[MonteQuest]

$this->bbcode_second_pass_quote('Tyler_JC', 'I') see this as great news!

Less oil consumption, fewer miles driven, and yet no zombie hordes.

[dinopello]

Tourists are still plentiful here. The other day I was at a parade with my dog and all these Chinese tourists wanted to take their picture with her. And, the newspapers have been running stories about how more people are staying on the metro to go to restaurants, shopping, etc., helping business along the lines. I know the lower margin restaurants like pizza are hurting because they haven't raised prices fast enough to keep up with climbing flour and other ingrediant prices.

[Geko45]

Looks like high prices are finally having a significant effect.

CNN: As gas goes up, driving goes down

$this->bbcode_second_pass_quote('', 'T')he Department of Transportation said figures from March show the steepest decrease in driving ever recorded. Compared with March a year earlier, Americans drove an estimated 4.3 percent less -- that's 11 billion fewer miles, the DOT's Federal Highway Administration said Monday, calling it "the sharpest yearly drop for any month in FHWA history." Records have been kept since 1942.

[Armageddon]

High oil prices will slow down driving while the prices are high. When demand lowers, the price should lower, resulting in more driving. It's like a dog chasing its tail.

[copious.abundance]

This has to be at least the 3rd thread on this very same thing.

[mos6507]

$this->bbcode_second_pass_quote('OilFinder2', 'T')his has to be at least the 3rd thread on this very same thing.

[mos6507]

$this->bbcode_second_pass_quote('dinopello', 'I') know the lower margin restaurants like pizza are hurting because they haven't raised prices fast enough to keep up with climbing flour and other ingrediant prices.

[KillTheHumans]

$this->bbcode_second_pass_quote('AgentR', '
')
Wasn't really expecting that sort of effect for quite a while; disturbing to see it already having an effect on the macro scale.