Saturday, June 28, 2008

More on CIBC - Mass Exodus

As an update to yesterday’s post about CIBC’s prediction of a “mass exodus” of vehicles off the roadway, the Metro newspaper ran a piece from a Canadian perspective.
Based on current prices, it would put gas prices in Vancouver somewhere in the neighbourhood of $2.40 to $2.55 per litre. By 2012, it would result in 500,000 to 700,000 fewer cars on the road across Canada, said CIBC senior economist Benjamin Tal.
That works out to about 30,000 to 45,000 less vehicles on the road in Vancouver by 2012. In today's terms it would be like rolling back traffic volumes by two years. That’s pretty amazing, and I'm sure this trend will continue to some extent before settling down. (I beleive that there will always be cars on the road in whatever form they take.) Hopefully, the 502 to Surrey Central can keep up with the demand.

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