May 2008 saw another sharp sharp drop in vehicle miles traveled (aka VMT) according to the Federal Highway Administration’s monthly report on “Traffic Volume Trends.” This follows a 4.5 billion mile drop in April and “the sharpest yearly drop for any month in FHWA history” in March (see here).
The moving 12-month trend-line is startling and suggests $4 a gallon is the first (but not the last) genuine tipping point for U.S. drivers:
I wonder what $7 gas by 2010 will do to VMT.
- $12 – $15 gas? Not so fast. But we’ll soon be mad for $6 – $7
- Note to media/Bush: Saudis/OPEC don’t control the price of oil any more!
- Peak-a-boo: Goldman says oil ‘likely’ to hit $150-$200 by 2010. That means $5+ gasoline.
- Note to Bush, media: Opening ANWR cuts gas prices one penny in 2025
- Peak Oil? Bring it on!
- Thirsty oil-rich nations reduce exports
- Why I don’t agree with James Kunstler about peak oil and the “end of suburbia”
- IEA warns of impending oil and gas supply crunch
- My 1996 warnings and predictions: “MidEast Oil Forever?” — Part I: Drifting Toward Disaster