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How Much is Enough?

June 6, 2008

As gas prices continue to rise, I find my driving habits changing and my decisions on doing certain activities changing. For example, I’m more conscious about driving much slower. As a result of this change, I have noticed that my gas mileage has improved significantly. Also, I find myself driving much less because it adds up. I don’t drive a gas guzzler or a sports car. I drive what some would consider an economy car. It is 13 years old, but for a car that age, I believe it gets decent gas mileage (almost 29 miles to the gallon).

A few weeks ago, I was reading a story posted on treehugger.com about an economist, Jeff Rubin, who predicted four years ago that gas would be $4/gallon. Quite a few people thought he was crazy and laughed at such a notion. Well, here today, we find that gas is approaching the $4 mark as an average for the nation (it’s already over $4/gallon in 12 states with California having the highest prices). Rubin is now predicting that gas will soar to $7/gallon in the next four years and could reach as high as $10/gallon. The question becomes, how will consumers’ driving habits change as result of this increase in oil prices? He believes that people will move closer to where they work and that you will see fewer people on the road.

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