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Hey, I'm just looking at the averages!

$4 a gallon petrol will not be enough to force a major shift in the choice of vehicles. We in Europe almost have $7 a gallon petrol right now. If you'd have that, you would get a real shift. If the vehicle fleet becomes more like Europe, you get more small cars and less cheap SUVs and pickup trucks; luxury SUVs will remain more or less the same as people driving them still have enough money to pay for that kind of petrol.

Could be that the US market functions differently from the EU market in various ways (due to poorer public transport and the aforementioned social factors in driving SUVs). So even with $7 petrol the shift towards a smaller vehicle fleet could be quite slow.

Also see this post by Atrios plus the comments.

by nanne (zwaerdenmaecker@gmail.com) on Wed Jun 20th, 2007 at 01:35:18 AM EST
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