
The
TSTC blog noted from an article in the Wall Street Journal that it looks like there is finally evidence that Americans are responding to the high price of gas by driving less. This
graph from the Federal Highway Administration is pretty interesting – constant increase for two decades except for the last year. You can see a couple inflections along the graph where there were recessions in 1991 and 2002, but this time it is far more serious a dip in the graph. As the price of gas has risen, lots of people have wondered at what point it would start to affect the driving habits of this mobile country – well, it looks like we’ve hit that point.
Comments
i brought up this point a few years ago to my money manager friend and he thought that really was an interesting question. (except i just bought a new car and stopped taking the bus!)
Posted by: spike | March 28, 2008 04:09 AM