[Armageddon]

If gas goes down , we will be driving more. Sorry, but $140.00+ oil is here to stay.

[yesplease]

$this->bbcode_second_pass_quote('dorlomin', 'B')rilliant news, BUT are airlines included as mass transit?

[DantesPeak]

$this->bbcode_second_pass_quote('', 'A')ccording to AAA, the average two-car family now would spend about $6,200 a year to gas up its vehicles.

"That's unsustainable. At some point, the math begins to not work," said Stephen Reich, director of the Center for Urban Transportation Research at the University of South Florida.

[TreebeardsUncle]

This is still a very small beginning.

The coefficient of the elasticity of demand for gasoline in America is such that for every 14% rise in the price of gasoline, demand only falls 1%.

Let's see where things stand in 10 years when gas is up in the $12/gallon range, and in 20 years when it is up around $25/gallon.

g

[yesplease]

$this->bbcode_second_pass_quote('TreebeardsUncle', 'T')he coefficient of the elasticity of demand for gasoline in America is such that for every 14% rise in the price of gasoline, demand only falls 1%.

[ReducedToZero]

IF you take the percentage of income that each of those items individually contribute, you'll notice in 08' in comparison to the 70s, the total % of disposable income spent on fuel AND vehicles is less now then it was back then.... that will soon change. the Gas line (the bottom line on the chart) is going to rapidly increase.

[copious.abundance]

--> CNN <--
$this->bbcode_second_pass_quote('', '[')b]U.S. driving on the decline
Americans continue to avoid the open roads, even as gas prices continue to fall, says the Department of Transportation.
By Aaron Smith, CNNMoney.com staff writer
December 12, 2008: 12:44 PM ET

NEW YORK (CNNMoney.com) -- Driving in America has undergone its most dramatic continuous decline in history, the Department of Transportation said Friday.

Americans drove 100 billion fewer miles during the 12-month period between November 2007 and October 2008 compared with the prior year, according to the DOT's most recent data.

U.S. Transportation Secretary Mary Peters noted that driving continued to decline even as gas prices came off their summertime peaks.

"The fact that the trend persists even as gas prices are dropping confirms that America's travel habits are fundamentally changing," she said in a statement.

The nationwide average price for unleaded gas was $1.656 per gallon on Friday, according to the motorist group AAA. Gas prices hit a peak of $4.114 a gallon on July 17.

In October, driving volume posted its steepest monthly drop since 1971, according to the DOT. Americans drove 3.5% less, or 8.9 billion fewer miles, compared with October 2007.

[...]

[dinopello]

As gasoline costs went up, there was less going[s]driving[/s] to Maui Wowi ... Business at Maui Wowi dropped and here we are.