You might think that increased gas prices lead to less driving, but historically that has not been the case. Gas demand is very inelastic (or gas prices are very elastic): which means demand changes very little as prices increase.
How much has consumption actually decreased in the face of huge increases in prices? The US government predicts .3% this year: and there is evidence it might actually be declining more in the last few months. Finally a significant reduction in demand may be upon us. Previously the only significant reaction was increased complaints but little change in behavior.
Gas may finally cost too much:
Related: Bigger Impact: 15 to 18 mpg or 50 to 100 mpg? – Gas Tax – $8,000 Per Gallon (ink not gas) – South Korea Invests $22 Billion in Overseas Energy Projects – The Rebirth of Cities – Traffic Congestion and a Non-Solution – Energy Future – Designing Cities for People, Rather than Cars – Gas Prices Send Surge of Riders to Mass Transit
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