Benefits of $4 Gas

Foreign Policy has an interesting article out.

Why it’s happening: One word: exercise. Bike shops across the United States are reporting record sales, and Britain is even promoting a national “Bike Week” to encourage commuters to ride, not drive, to the office. Not only is two-wheeling a cheaper way to travel, it’s also healthier. Courtemanche’s results show that “the average person walks or bicycles an average of 0.5 times more per week if the price of gas rises by $1.” Another factor he identifies is that cost-conscious Americans are choosing to eat at restaurants less frequently. Indeed, a virtuous cycle could be at work: A study published in The Engineering Economist found that Americans today use nearly a billion additional gallons of gasoline each year, compared with 1960, solely because they weigh more.