KEVIN DRUM ON OIL PRICES AND DRIVING HABITS: I think it’ll take a while to see if there are lasting changes in people’s behavior, but it would be a strange thing indeed if people didn’t respond to higher gas prices by figuring out ways to use less, either by driving less, driving more slowly, or getting more efficient vehicles. (My brother has retired his truck to occasional haulage duties and is now commuting to work in a Mazda 3, bought used. He was going to sell the truck, but it’s got 150K miles on it and is worth very little on the resale market anyway — he said looking at used car prices suggests that gas hogs are selling at a much steeper discount than a few months ago, and more efficient used cars are selling at a premium.)