U.S. Miles travelled 12 month moving average to May (see graph left).
And from Reuters:
U.S. oil demand during the first half of 2008 fell by an average 800,000 barrels per day (bpd) compared with the same period a year ago, the biggest volume decline in 26 years, the Energy Information Administration said on Tuesday.
Question: Now that gasoline has settled at about $1.25 per litre, down from $1.35 a month ago, does the Green Shift become a significantly easier sell?