News and Document archive source
copyrighted material disclaimer at bottom of page

NewsMinecabal-elitecorporateoil2005-prices — Viewing Item


More bicycles than cars sold due to oil prices

Original Source Link: (May no longer be active)
   http://news.yahoo.com/s/afp/20051001/sc_afp/usstormenergyenvironmentbicycles_051001131406

http://news.yahoo.com/s/afp/20051001/sc_afp/usstormenergyenvironmentbicycles_051001131406

Bicycle sales boom in US amid rising gas prices
Sat Oct 1, 9:14 AM ET

WASHINGTON (AFP) - More bicycles than cars have been sold in the United States over the past 12 months, with rising gas prices prompting commuters to opt for two wheels instead of four.

Not since the oil crisis of 1973 have bicycles sold in such big numbers, according to Tim Blumenthal, executive director of Bikes Belong, an industry association.

"Bicycle sales are near an all-time high with 19 million sold last year -- close to the 20 million sold during the oil embargo in the early 1970s," said Blumenthal, whose association is based in Boulder in the western state of Colorado.

The US Chamber of Commerce says more bicycles have been sold than cars over the past 12 months.

In a country where most of the population still relies heavily on cars, some 87 million people have climbed on a bike in the past 12 months, Blumenthal said.

While less than car sales, bike sales generate about five to six billion dollars of business a year, he said.

Bicycles are back mainly because the sharp increase in gas prices has made them a practical alternative, said Paul Gaiser, owner of Scooter Commuter in Bethesda, Maryland.

"Above all it's the higher price of gas, but also it's concern for the environment and the cost of another car," Gaiser told AFP.

The average price of gas in the United States has increased 47.3 percent in a year, according to figures published last week by the American Automobile Association.

Gaiser believes the bicycle trend is no passing fad.

"Our sales have quadrupled in the last two months," he said. "I think it's a major paradigm shift. It's here to stay."

Cyclists on the streets of the US capital agreed.

"I bought my first bike six months ago to go to college. I could not do without it. It's faster in traffic and less expensive," said Erik Lubell, a student at George Washington University wearing a multi-colored helmet.

Near the affluent district of Georgetown, Stella Hardwood said she had a different motivation.

"I don't want to put on weight and my bike forces me to exercise," Hardwood said.

The superstar status of cycling champion Lance Armstrong, who has won the Tour de France seven times, has also helped spark interest in the sport.

The US government has also done its part to promote a more bicycle-friendly environment. Some 3.5 million dollars in federal money has been set aside to create cycling trails over the next four years.



August brings record highs in oil prices
BP oil refinery blast in texas bumps prices
Bp profits up 34 precent
Chevron profits up with prices { July 29 2005 }
Concern over iraqi oil during elections
Crude futures stay above 67 { August 26 2005 }
Crude oil surges with another storm in mexico gulf
Crude prices inch toward 50 a barrel
Current oil price levels unsustainably high { December 4 2005 }
Decline in inventory larger than expected
Depot explosion near london raises oil prices
Exxonmobile shell post record profits
Exxonmobile tells gas station owners to gouge
Gas price drops due to less demand due to high prices
Gas prices drop sharply after climbing
Gasoline futures surge to record high after katrina { August 31 2005 }
Gasoline pump prices high despite crude fall
Goldman sachs predicts spike to 105d barrel { March 31 2005 }
Greenspan says world must live with high prices
Hurricane katrina shoots oil to over 70b
Investors raising prices by betting on shortages { March 16 2005 }
July futures send above 58 year record { June 17 2005 }
London attack causes oil price drop
London explosions causes oil price plunge
Market shouldnt expect anything from opec
More bicycles than cars sold due to oil prices
No difficulties on supply side
Oil approaches 61 as tropic storms threaten sypply
Oil climbs to six week high in january 2005
Oil companies enjoy record earnings in UK { October 4 2005 }
Oil demand outpacing supply concerns
Oil dives below 50 on dollar gains { May 12 2005 }
Oil drops below 50 a barrel
Oil falls below 50 in april yet pump prices sour { April 28 2005 }
Oil falls below 51 on high inventories { April 13 2005 }
Oil hits 64 barrel over supply concern
Oil hits new high amid norway strike fears { June 21 2005 }
Oil hits record highs as saudi king dies
Oil market oversupplied says iran
Oil nears 61 as gulf storm gathers again { July 13 2005 }
Oil prices hover around 55 dollars
Oil prices stay firm above 51 dollars
Oil reaches record 58 on supply concerns
Oil supplies up as price tops 51 dollars
Opec chief wants to increase production
Opec oil output highest since 1979 { August 4 2005 }
Opec oil output strong { April 2005 }
Opec predicts 80 dollar barrel oil spike
Opec production surpasses demand
OPEC warns that oil prices will stay high
Other factors not supply driving up oil
Prices fed by speculation and unwarranted fear { April 5 2005 }
Prices high despite adequate fuel supply
Shell profits soar to historic highs
Small car interest falls with gas prices { October 2005 }
Speculation by hedge funds running up price
US has 700m barrel reserves of oil
US oil supplies increase as OPEC boosted production { June 28 2002 }
US report sees gasoline prices moving higher still { April 8 2005 }

Files Listed: 59



Correction/submissions

CIA FOIA Archive

National Security
Archives
Support one-state solution for Israel and Palestine Tea Party bumper stickers JFK for Dummies, The Assassination made simple