Why High Gas Prices Will Not Change Driving Habits
3 October 2005 - 9:00am
Austan Goolsbee explains why a short-term increase in fuel prices is unlikely to change Americans' driving habits.
"In repeated studies of consumer purchases over the years in the developed world, drivers in the United States consistently rank as the least sensitive to changes in gas prices. Even when gas gets expensive, we just keep on truckin'...Why don't we ratchet down more when fuel prices go up?"
Full Story:
The Grip Of Gas
Source:
Slate, October 3, 2005
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