Daniel Gross argues that higher gas prices, while painful, “won’t torpedo the economy”:
In the last few years, the corporate sector got religion about efficiency. Walmart has steadily increased the fuel efficiency of its vast trucking fleet. Through the use of smart logistics and route planning, UPS has shown it can significantly increase the number of packages it delivers even as its trucks drive fewer miles. Businesses that have to spend the most money on gas have the biggest incentive work on efficiency. And so they’re investing in alternative fuels and new technologies. The other day in New York, I saw several electric DHL trucks, part of its fleet of 30 battery-powered vans and 50 hybrid trucks. About 30 percent of the taxis in New York City today are hybrids. Bus fleets around the country run on compressed natural gas, as the website CNGNow.com documents.