Friday, June 20, 2008

Strapping the chicken

With oil prices going through the roof and looking like they'll never return to pre-Bush levels, you may be wondering why the government is still committed to building motorways rather than crash-investing in public transport. The answer? Because they're still using 2002 oil prices of US$26 a barrel (oh, and ignoring carbon costs, counting positive externalities of roads but not public transport, and valuing the wasted time of car drivers at a far higher value than that of public transport passengers). Which just goes to show you can prove anything you want if you strap the chicken tight enough - but it’s no way to run a transport policy.