Thursday, November 20, 2008
Frankie Busalacchi's Big Problem
Below is a picture of US vehicle-mileage (year-over-year, 12 month rolling average):
...vehicle miles driven are off 3.0% YoY, and the decline in miles driven is worse than during the early '70s oil crisis - and about the same as the 1979-1980 decline. As the DOT noted, miles in September 2008 were 4.4% less than September 2007, so the YoY change in the rolling average will probably get worse
Frankie (the Fixer) Busalacchi over at Wisconsin's DOT has a problem. That fuel tax ain't shoveling money into DOT's pockets like it used to...
HT: Calculated Risk