Proof of this is the narrowing of the price gap between gasoline and diesel in Europe. Diesel has "always" been substantially cheaper; this summer we have achieved parity, at a time when cars are consuming something like 5% to 10% less fuel than the same month last year. Personal transport is becoming prohibitively expensive; goods transport is still very cheap.

Freight by truck in Europe still seems to be growing apace; ever-greater economic integration and rationalisation, the delocalising of manufacturing to central and eastern Europe...