There is some pretty good news on American demand for gas, not entirely unpredicted. It’s going down, and energy economists believe that the trend will continue–from National Public Radio.
The great thing about the story: it nicely illustrates all the ways that drivers can substitute different behaviors and technologies to save money before they take the step onto public transit: by changing cars, by shortening trips, by rearranging trips, etc.
This is not to say that I think transit usage hasn’t made a different. Long-term trends towards urbanization promise to redistribute a greater share of the whole population into metro areas. Combined with natural increase in already urbanized areas, we should see more riders riding more over the long term.