$200 a Barrel?

Newsweek just devoted a page in this week's issue to provide a snapshot of what life in America might look like if/when oil goes to $200 a barrel (tho thankfully it fell $6 today before trading ended.) Michael Lynch, of Strategic Energy & Economic Research provided the estimates of changes we can expect. Here are some highlights:

Gasoline Prices: UP 53%
Number of Airlines going bankrupt: 8
Motel stays: DOWN 5%
Sales of Long-distance Bus Tickets: UP 8% (rumor has it that Las Vegas is setting up a special Greyhound bus terminal specifically for the AAPEX and SEMA shows to bring in all the SoCal jobbers and technicians) I know the cost for a Continental flight to Las Vegas from Cleveland is $100 more today than it was a month ago.
Hummer Sales: DOWN 13%
Corn Prices: UP 25% ($.45 each at this past weekend's local farmers market)
Dow Jones Transportation Index: DOWN 15%
NYSE Energy Stocks: UP 12%
Hybrid Vehicle Sales: UP 40%
Consumer spending on gas is projected to exceed spending on food about the 3rd or 4th quarter of 2009. Can't wait!