Thursday, March 31, 2011

Short Term/Long Term

I'm a lazy blogger so I haven't even clicked through to the study yet (but I will!), but the interesting question is what happens if we have, say, a 60% gas price spike that persists over several years. All of the recent price spikes haven't lasted very long, and, yes, for most people there isn't an immense amount of flexibility in their driving habits, at least in the short run.