A report from the Department of Transportation revealed that in the past nine months Americans drove 53.2 billion miles less than they did in the same period a year ago. Urban travel dropped by 1.2% and rural travel by 4%.
Conservation in the US has the most impact globally in reducing demand. High gas prices produced voluntary conservation but they also enable investors to seek solutions to the oil addiction.
A drop in prices that allows somewhat of a resumption of "life as usual" will deflate momentum for alternative fuel investment. Corporate America will only take on the risk of expensive electric cars if they have stats to show they can profit from the endeavour.
A slump in gas prices can reverse conservation gains and delay a true solution to peaking fossil fuels in growing global demand.
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