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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Broken_Clock who wrote (103288)	6/19/2008 1:19:16 PM
From: Elroy Jetson	Respond to of 206101

Short-term demand destruction taking place. That's good as far as it goes, but a lot of pain for a small gain. Over the next 5 or 6 years we'll see permanent demand destruction taking place as people make energy saving investments in their business and personal life. Those changes will be easier to take and have a bigger pay-off. .

To: Broken_Clock who wrote (103288)	6/20/2008 9:38:42 AM
From: dvdw©	Respond to of 206101

DOT 84-08 Wednesday, June 18, 2008 Contact: Doug Hecox Tel.: (202) 366-0660 Americans Drove 1.4 Billion Fewer Highway Miles in April of 2008 than in April 2007 While Fuel Prices and Transit Ridership Are Both on the Rise Sixth Month of Declining Vehicle Miles Traveled Signals Need to Find New Revenue Sources for Highway and Transit Programs, Transportation Secretary Mary E. Peters Says WASHINGTON – At a time of record-high gas prices and a corresponding surge in transit ridership, Americans are driving less for the sixth month in a row, highlighting the need to find a more sustainable and effective way to fund highway construction and maintenance, said U.S. Transportation Secretary Mary E. Peters. The Secretary said that Americans drove 1.4 billion fewer highway miles in April 2008 than at the same time a year earlier and 400 million miles less than in March of this year. She added that vehicle miles traveled (VMT) on all public roads for April 2008 fell 1.8 percent as compared with April 2007 travel. This marks a decline of nearly 20 billion miles traveled this year, and nearly 30 billion miles traveled since November. “We’re burning less fuel as energy costs change driving patterns, steer people toward more fuel efficient vehicles and encourage more to use transit. Which is exactly why we need a more effective funding source than the gas tax,” Secretary Peters said. The Secretary said as Americans drive less, the federal Highway Trust Fund receives less revenue from gasoline and diesel sales – 18.4 cents per gallon and 24.4 cents per gallon, respectively. The Secretary noted that data show midsize SUV sales were down last month 38 percent over May of last year; car sales, which had accounted for less than half of the industry volume in 2007, rose to 57 percent in May. She said past trends have shown Americans will continue to drive despite high gas prices, but will drive more fuel efficient vehicles consuming less fuel. “History shows that we’re going to continue to see congested roads while gas tax revenues decline even further,” she said. “As positive as any move toward greater fuel efficiency is, we need to make sure we have the kind of sustainable funding measures in place to support needed highway and transit improvements well into the future,” said Acting Federal Highway Administrator Jim Ray. To review the FHWA’s “Traffic Volume Trends” reports, including that of April 2008, visit fhwa.dot.gov. ###