Saturday, October 29, 2011

Americans spend USD 1/2 Trillion/year on gasoline

The Peak Oil Crisis: The Energy Trap | Falls Church News-Press Online: "The Energy Trap study found cases in which more than 50 percent of a family's income was going into paying for and fueling the car. What is most alarming is that 30 years ago the spike in gasoline led to a 12 percent reduction in the demand for gasoline as consumers drove less, switched to smaller cars, and sort of adhered to the 55 mph speed limit that had been put in place to save gasoline. It is now more than three years since the $4+ price spike of 2008 and demand has only fallen some 3 percent."

'via Blog this'

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