“The Greatest Mass Exodus of Vehicles Off America’s Highways in History”

By the year 2012, according to a new report (pdf) from CIBC World Markets on the effects of the rising cost of oil. Among the predictions:

  • oil at $200/barrel and gasoline at $7/gallon by 2010
  • 10 million fewer vehicles on the road by 2012 (peak at 240 million)
  • 15% reduction in vehicle miles traveled by 2012

If these predictions bear out, the cost of oil will do more to reduce our region’s greenhouse gas emissions than we could ever reasonably hope to achieve with government policy. And I hope someone brings a copy of the report to the next Viaduct Stakeholders meeting.

6 Responses to ““The Greatest Mass Exodus of Vehicles Off America’s Highways in History””

  1. Jason

    President McCain won’t stand for this.

  2. dorian gray

    President Bush is standing for this.

  3. Joe G

    I am so happy to hear that people are finally starting to drive less. We all need to start paying attention to the problem of Peak Oil!

  4. Shane

    Peak Oil is going to be a problem in the short term, but perhaps the solution in the long term.

  5. AngryCyclist

    People are fickle and have short attention spans- the second prices ease a bit it’ll be back to normal.

    Although it proves that the market can do things that Congress’ handlers would never allow.

  6. Joe G

    In response to Shane: You misunderstnad “peak oil”, at least how i meant it. Peak Oil does not refer to the price of a barell of oil, it refers to the fact that the worlds oil fields have hit their peak in production and now are currently declining. It is the fact that one day there will be no more oil for the world to use and the faster we get our nation and our economy, the world economy for that matter, off of oil the better it is for everybody. This also says that Oil will not be going down in price ever. The fact that a gallon of gas or a barrell of oil may make small fluctuations in price but generally it is on the rise for good. Americas formula for prosperity for the past century has been based on a formula that included cheap oil prices, we now have to make a new formula to continue to prosper.

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