Gas Consumption Set Decline


	Gas Consumption Set Decline

zelda67

6-19-2008 1:30 PM

135 views

tags:

gas, oil, consumer

zelda67 says:

I am waiting for the decline!

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                        The price of gasoline quadrupled over the last decade, but Americans responded by driving more and more in ever-larger gas guzzlers as if nothing had changed. But $4 gas combined with an economic black hole may have finally gotten the message across, reports the <EM>New York Times,</EM> as American gasoline consumption is set for its first annual decline in 17 years.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.newser.com/story/30409.html"><P>
                    Consumer behavior is shifting in reaction to higher gas prices in other ways. Ridership on public transportation is climbing across the country, while sales of SUVs are plummeting and hybrids are up. An industry report says the current situation has parallels to the decline in consumption during the 1970s oil shocks, and that "if these trends hold, then 2007 could stand as the peak year for US gasoline demand."
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