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by winter_blue
2250 days ago
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On a tangential note, these lawmakers failed to see the real consequence of a 55 mph speed limit: the invisible economic loss of longer commute times probably far outweighed any of the minor 0.5 to 1% savings in gas. Those hours spent on the road are hours that people could be spending with their family, at work, or doing whatever else they like. According to the Census Bureau, 128 million today commute daily in the US. Let's say they spend an average of 30 minutes on the highway at a top speed of 65 mph. If we raised the speed limit by 50% (to 97.5 mph), then the average commute would become: 30 / 1.5 = 20 minutes. Each individual would save 10 minutes a day. With 252 working days a year, that's 2520 minutes saved a year -- which is a total of 42 hours saved per year. That's a lot of time. Across 128 million commuters, we'd save 5.376 billion hours per year. If people earned an average of $20/hour, that would be $107 billion of added economic activity per year. Whereas even 1% of gas savings would not be more than $2 billion saved per year. |
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