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Old 05-26-2008, 09:42 AM
 
Location: America
6,994 posts, read 16,381,957 times
Reputation: 2083

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Good articles on Reuters about the price of oil and its effect on consumer spending.

I believe they said, travel is the lowest it has been since the late 1970s (remember the oil embargo and its almost decade long effects?). Consumer spending down, manufacturing down. Air travel industry in trouble etc. etc.

You get the picture. My question becomes, if its like this at 4 bucks a gallon, what will be the result of 5, 6 dollars a gallon? Will we see a NOTICEABLE difference in the amount of people driving? More scooters and motorcycles maybe?

Anyone planning to ask their boss for the opportunity to telecommute a few times a week? I know I did a few weeks back (it was approved) thank God.

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Old 05-26-2008, 09:48 AM
 
Location: Great State of Texas
86,068 posts, read 79,022,251 times
Reputation: 27669
What I think is worse is that, while all this is going on and in the media, the government is still insisting that "everything is ok". They say the economy is softening a bit.
A bit ? The wheels have practically gound to a halt.

Until our government gets out of denial and tells the American public what they don't want to hear, people will not change.

I now work from home 1 day a week. If gas prices increase it may turn into 2-3.
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Old 05-27-2008, 08:46 AM
 
3,699 posts, read 10,784,403 times
Reputation: 2630
I saw a lot fewer cars on the road this weekend than I've seen in a long time.

It was nice.
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Old 05-27-2008, 11:02 AM
 
Location: WA
5,566 posts, read 23,256,527 times
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A large part of fuel use is non-discretionary... people need to get to work, the doctor, heat homes, etc. The rise in energy costs has to reduce spending in other areas so it is a huge drag on the economy.
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Old 05-27-2008, 11:08 AM
 
Location: America
6,994 posts, read 16,381,957 times
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^^

People better learn how to catch the bus I guess.
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Old 05-27-2008, 11:45 AM
 
Location: America
6,994 posts, read 16,381,957 times
Reputation: 2083
*in a deep and ominous voice from above* It has begun

Quote:
The Department of Transportation said figures from March show the steepest decrease in driving ever recorded.
Man oh man is this going to be one ugly year(s).

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