Abstract
Since at least the 1970s, Americans have known that reliance on gasoline is a risky proposition. Low gas prices and largely effective policies designed to incentivize the sale of large cars and trucks for most of the 1990s and early 2000s, however, further entrenched and intertwined the American economy with the price of gasoline. In 2008, when crude oil spot prices topped $130 per barrel and the average per gallon gasoline price rose to over $4.00 per gallon, U.S. consumers slowed their gas consumption (finally) and began to look for other options. Over the years, many reasons to reduce oil consumption have emerged.
The utilization of oil as the primary energy source for transportation raises a wide range of policy concerns,' from Peak Oil to climate change and national security to market manipulation. Despite several compelling reasons to move beyond oil to a cleaner, more sustainable fuel source, petroleum-derived fuels remain the predominate choice for transportation needs. There have been numerous policies seeking to reduce Americans' dependence on oil, especially foreign-sourced oil, but none have made a significant impact on the transportation fuel mix.