Gas Prices

Kevin Drum has a frightening little chart showing that, for the last 20 years, American gas consumption has been pretty much unaffected by price changes. This seems to call into question the "high gas prices are good for the environment" argument, and suggests that when the crunch finally hits, it's going to hit hard. On the other hand, there was a dip in consumption during the early 80s, so perhaps we'll hit some sort of threshold at $2.50 or $3.00 per gallon when people will finally stop whining and start walking.