Monday, March 7, 2011

As Gas Prices Rise

I have written a few times about the coming move to PEV's (Plug-in Electric Vehicles).  Charging stations are currently available in limited areas, and Duke Energy is looking to expand their installation. 

The news over the past several weeks has been chronicling the increase in the price of a barrel of gas, and the consequences at the gas pump.  Charlotte prices have risen to over $3.50 per gallon.  The magic number seems to be $4.00 per gallon for people to begin to make significant changes in their lifestyle.  Once that threshold is reached, it is thought that more people will consider public transportation as a serious option.

With the unrest in the Middle East, Libya in particular, the price should continue to climb.  When it ends, the price will probably abate some, but there is no real doubt that the long term view has gas prices rising and staying at an elevated level.  Remember, there are only so many barrels, and both China and India are in huge expansion modes.

Charlotte is ahead of the curve as to the conceptual development and execution of a comprehensive transit plan focusing growth in 5 major legs, one having already been built, and another about to begin.  This access to public transportation and a strong core and corridor plan will focus on increasing property values on any area that is convenient to transportation.

Downtown residents should take heart in this.

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