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Alas, however, this sort of measure, like much else to do with "conservation", is not overly scalable. Ultimately you also need supply of some sort, not just demand reduction. After all, if gas goes up again and your rescheduled day is already too long, what do you do for an encore?
The state government is not going to provide any more subsidy, so there will be higher fares as soon as the MTA can legally impose them.
Indeed, if high energy prices render enough Americans insolvent, there could be a sharp drop in consumer spending. High energy prices and increased credit risk will continue to exert upward pressure on long-term interest rates, with a likely deflation of the real estate bubble. Put these things together, and you have a major recession that will have an especially severe impact on the financial sector.
That will mean a decrease in tax revenues and therefore subsidies for the MTA and higher fares still for New Yorkers who will have less money to spend on them due to layoffs.
I think that a huge number of people are still convinced this is temporary. That it is a result of katrina, or oil companies gouging, or a bad phase of the moon, or whatever; but they are just trying to hang on "until things go back to normal."