Dan, I loved your discussion of oil price drivers in yesterday's issue. You mention our "life styles" and driving habits.
What I wonder is when do we really see the impact of the Obama/EPA 50+ mpg car gas mileage mandate? I personally do not understand how it can happen without a revolution. When the real population actually begins to feel green mandates - I expect the outcry to be huge.
But when do we see the car types we like to buy disappear?
Bob
PS: We just returned from an 1100 mile trip through lower Michigan. We averaged over 30 mpg with a V6 ES350. In my life that is great. How can that mileage be improved over 50%. A hybrid would not do it as the driving was continuous. A 200 mile range Tesla would not do it. When does the "stuff" hit the fan with this mandate?
Glorified Golf Carts
Re: Glorified Golf Carts
In Texas, it seems that half the vehicles on the road are SUVs and big pick-ups. One result of the Obama mandate is that people will hang on to their old SUVs a lot longer. People will also turn to luxury four door pickups as an alternative.
So far, gasoline over $3.50/gallon hasn't caused people to reduce consumption. I saw one study that said Americans will not alter their driving habits until gasoline is at least $5.00/gallon. There will be a lot of bitching about high fuel prices along the way, but Americans love their big cars and trucks.
My wife (who is small) is the one in our family that won't give up the SUV.
So far, gasoline over $3.50/gallon hasn't caused people to reduce consumption. I saw one study that said Americans will not alter their driving habits until gasoline is at least $5.00/gallon. There will be a lot of bitching about high fuel prices along the way, but Americans love their big cars and trucks.
My wife (who is small) is the one in our family that won't give up the SUV.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group