News What’s That Definition of Insanity Again?
posted by October 30 at 8:40 AMon
The sharp decline in gasoline use earlier this year—with volume down nearly 10 percent in some weeks—suggested to many people, including the automobile companies, that a permanent change in American habits might be at hand. But with gasoline prices falling drastically in recent weeks, some American drivers are returning to their old ways.
With auto companies closing factories that produce sport utility vehicles in favor of smaller, gas-efficient cars, it may be hard to veer back to the gas-guzzling days very quickly. But Dan Lopez, business manager at the Ford dealership in the Louisiana town of Sulphur, near here, says he has already noticed a shift. Truck sales froze over the summer, he said, but now “some people are gradually getting back into the truck market. We’re used to the comforts, frills and whistles, and so if gasoline goes down to a reasonable level, people will not stay in a little boxy fuel-efficient car.”
Because, hey, if there’s any lesson we can draw from current economic conditions—stock markets, currency markets, commodity markets—all the trends we’re seeing are basically stable. It’s not we’ve seen a lot of volatility out there, right? So now that gas prices are trending down it’s a pretty much a sure thing that they’ll keep heading south.
Heck, gas will be free by Christmas and the oil companies will be paying us to take the stuff off their hands by Valentine’s Day.