High oil prices is definitely good for the environment. The last hydrocarbon consumption data shows that the UK consumed only 4.4 billion litres of fuel in July. That is down about 1.2 percent compared to July last year and down almost five percent compared to average monthly consumption during 2004-07.
Some might think that a 1.2 percent fall is rather derisory given the recent huge hike in fuel prices. On the other hand, it does translate into fewer cars on the road, and that can only be a good thing for anyone who has to use the M25 on a regular basis. Any reduction can only help my poor frayed nerves.