Old news. Everytime gas prices have climbed into new record territory, people start buying smaller, more fuel efficient vehicles - often trading their gas-guzzler in on the smaller car.
Then, when gas prices fall (as they invariably do) people begin abandoning their smaller cars for the larger ones because they like the roominess and power of the larger cars.
This story is the same as the beginning of the school year stories when the news organizations have nothing else better to do than recycle old news and remind everyone that school is starting . . . blah, blah, blah . . . . kids and buses, blah, blah, blah . . . police enforcement of school zones, etc.
Nothing to see here. Move along.
I think the cyclical dynamics have changed. Before, price rises were attributed to a massive explosion at a refinery or the Arabs trying to squeeze us.
Now, we have built up China and India into blossoming oil-hungry countries which will keep prices high and probably push them much higher in the future.
Future U.S. governments are going to have a real domestic problem on their hands. Cheap food, cheap gas and good-paying jobs for all. About all that's left now is the cheap food and I see that escalating also. Food (processed foods and meat) used to fluctuate and gradually inch up with inflation. Now I see jumps of 10c at a time on many items.