Oil and its Effect on American Habits

The price of oil impacts Americans in what seems to be a limitless number of ways. Most recently, the already declining highway infrastructure received a new setback to its funding thanks to declining oil revenue and the possibility Americans’ driving habits might be headed back towards their carefree days.

During the summer gas price spike, where prices peaked above $4 a gallon, many Americans responded by not only purchasing more fuel efficient vehicles but simply cutting back on their driving. Reductions in driving equal a reduction in gas sales, which has led to the Department of Transportation reporting a drain on their highway fund. 90% of the fund’s basis comes from government taxes on gasoline sales and the decline in drivers destroyed the fund, leading to a request to Congress for $8 billion in order to continue maintaining roads.

However, as the price of oil has continued to slide into its five-month low of just over $100 a barrel, many economists are wondering how Americans will react. There is concern Americans will return to their gas guzzling ways and begin purchasing giant, multi-ton SUVs again. Using the OmniNerd site statistics as a gauge reveals as the price of gas rose to its record highs, the article "Improve MPG: The Factors Affecting Fuel Efficiency; increased its daily popularity threefold. As the price began its decline, so did domestic interest in the subject. (This trend can be considered a fair benchmark of American interest in fuel efficiency as the article is the first result on Google when searching for "Improve MPG.")