Even Texas Is Going Electric

Sales fall off as Americans opt for leaner, greener cars

(NEWSER) - America’s obsession with super-size cars seems to be running out of gas. The Daily Green reports on the seven signs of the SUV apocalypse:

1. The numbers: Sales of small cars were up 11% in the first half of the year, while SUV and truck sales were down by 14% and 23%, respectively.
2. The demand: The unofficial waiting list for GM’s new electric offering, the Chevy Volt, is 33,000-strong.

Consumers viewing fuel efficiency as 'one factor' again

(NEWSER) - Oil prices have been falling since mid-June, and though it’s debatable whether speculators or market fundamentals drove the boom (and now possible bust), it is clear that $4 a gallon gas crimped demand. But for how long? With prices now again below that psychological threshold but still $1.19 more than a year ago, auto industry data suggest that even mild relief could reverse the trend toward fuel efficiency, the LA Times reports. More»

Increasing supply fails to dent price

(NEWSER) - Soaring gas prices are changing Americans driving habits, cutting consumption to the lowest levels in five years, reports the Wall Street Journal. Gas consumption dropped by 3.3% to 9.3 million barrels a day compared with last year's Fourth of July holiday. Some 62% of Americans are changing summer plans because of rising gas prices, and 15% have canceled vacations altogether. More»

50% surge in sales south of border

(NEWSER) - Soaring gas prices have Californians and Texans racing for the border and braving drug cartel violence to save some $20 per tank filling up in Mexico. American pumps have passed the $4 mark, but Mexican gas is still just $2.66 a gallon thanks to subsidies intended for poor Mexicans. Americans are buying it up instead, triggering a 50% surge in sales—and Mexican gas shortages, reports the New York Times. More»

Seth Fletcher explains why America needs to learn from its mistakes

(NEWSER) - America is responding to the recent spike in gas prices in the same “depressingly predictable” fashion it always has. “We’re shocked to see prices top $4 a gallon, as if it’s never happened before,” writes Seth Fletcher in the New York Times . “We demand that something be done—not to reduce our dependence on oil, but to cut the cost of a fill-up.” Thankfully, Barack Obama’s got a real solution in mind: He’s calling for more funding for electric car research and tax breaks. More»