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Sign, sign, everywhere a sign
It’s become a truism that Americans are driving less due to high fuel prices. Here are five signs that signal a decline in demand:
1. Drop in volume: The fall in U.S. oil demand in the first half of 2008 was the biggest in 26 years, according to the EIA.
2. Less time on the road: Americans are spending less time behind the wheel, according to the Dept. of Transportation
3. Taking the train : A record number of riders are turning to mass transit to get around
4. Fewer buying gas : Retail gas sales have dropped below year-ago levels
5. Safer roads : Fewer drivers mean fewer road accidents, according to Warren Buffett. Berkshire Hathaway is the parent company of Geico, one of the largest U.S. auto insurers.
Is the writing on the wall? Share your signs of dropping oil demand.
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