WASHINGTON (Reuters) - If U.S. gasoline prices hit $4 a gallon this year, more than half of Americans surveyed said they would reduce holiday travel and cut back on personal spending to offset the higher pump costs
By Tom Doggett
WASHINGTON (Reuters) - If U.S. gasoline prices hit $4 a gallon this year, more than half of Americans surveyed said they would reduce holiday travel and cut back on personal spending to offset the higher pump costs
Results were released Wednesday of 1,001 Americans surveyed on behalf of the Massachusetts-based Civil Society Institute think tank and its 40MPG.org project which pushes for more fuel efficient U.S. cars and trucks.
"These survey findings suggest that $4-a-gallon gasoline could be a real tipping point for the public," said 40MPG.org spokeswoman Ailis Wolf.
!ADVERTISEMENT!The Energy Department is forecasting that high crude oil costs will push gasoline prices to a record $3.50 this spring when driving normally increases, and 71 percent of those surveyed expect gasoline will hit $4 a gallon this summer.
If that happens, 52 percent would cut back on summer or end-of-year holiday travel and 58 percent said they would reduce other spending to cover their gasoline expenses.
"Gas prices rising to $4 or higher will further tighten the wobbly U.S. economy," said Graham Hueber, senior researcher at the Opinion Research Corp which conducted the survey.
Both high energy prices and the weak U.S. economy are becoming a bigger issue in the presidential election and candidates are talking more about how they would solve the problem.
Voters are apparently listening, with 89 percent of those surveyed saying the views of candidates on energy-related issues will be an important factor in who they support for president.
"Americans are looking for leadership on energy," said Pam Polo, president of the institute that sponsored the survey.
Among the major economic concerns for 2008, the survey found higher gasoline and heating oil prices were the most cited (51 percent), followed by recession/economic slowdown (47 percent), the mortgage crisis/falling home prices (31 percent), higher inflation (21 percent) and an increase in joblessness (18 percent).
Other key findings of the survey include:
* 84 percent think the federal government is not doing enough about high energy prices and the U.S. dependence on Middle Eastern energy sources.
* 84 percent think big oil companies are gouging consumers at the gasoline pump.
* 79 percent would back a tax on windfall profits of oil companies if the revenues were spent on alternative energy research.
* 44 percent are now more likely to buy a hybrid, clean-diesel or other fuel-efficient vehicle than they were six months ago.
(Reporting by Tom Doggett; editing by Russell Blinch and Jim Marshall)
