“We all know most Americans have reduced their gas usage considerably. We alone have reduced ours by as much as 25 percent, eliminating all needless trips and combining others. Most people are already rationing their use.”
If this is happening, I’m sure not seeing it. There may be some reduction at the margins, but the traffic I sit in every morning is just as rotten as it has always been, and 8 of 10 cars have one occupant.
I think we’ll have to see gas go to about $6 a gallon or more before people start drastically changing their habits.
Come on. With the rising prices of everything cased by these crazy fuel prices, people are cutting back driving any way possible.
Tell ya what, I know a guy with a large RV rental business, and his reservations are down over 30 percent this summer as opposed to last summer.
In addition, even the local resorts are seeing a considerable down turn in visitors.
The problem with simply changing habits is that there may be an economic consequence to that. There simply isn't very much "cruising around town" going on. If people decide to drive less it usually means that they aren't spending as much $$$. You can save gas by not going out to dinner one night a week, but that ultimately impacts the restaurant business and the waiter/waitress. You can choose not to go to a major league baseball game this season because you don't want to consume gas driving there. But unfortunately that action hurts the baseball team and the folks who work at the stadium.
Additional to gasoline, oil is the key raw material for diesel fuel and heating oil. If the price of those two continue to go up there will be negative economic consequences throughout thje economy.
Additionally
“If this is happening, I’m sure not seeing it.”
I’m with you.