I was just wondering what everyone's thoughts are about this issue.
Whether or not you believe in Peak Oil is secondary here.
One would have to be naive to think Oil will return back to $40 a barrel. Higher prices are here to stay IMHO and will continue to rise faster than inflation.
Transit ridership is up all across North America. I know personally that rents for fringe areas of my town are falling significantly as people pass over lower prices in exchange for centrally located properties.
I guess a lot of people were counting on this to be a temporary thing, but oil continues to trade near its all time high. I wonder if it's only a matter of time before distant suburbs start dying out. Urban condo sales in Tallahassee are now red hot. More than double first expectations. Now there is nearly a dozen or so planned which will bring thousands of people into the downtown area. I wonder if this would be possible had it not the recent rise in gasoline prices.