“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.