High Gas Prices Spur Sales Of Electric Bikes

This is what economic theory predicts. With higher gas prices, people will seek a better deal somewhere. Here is the link to the article. Electric bikes selling briskly as gas prices climb. Here is a brief exerpt:

"Official sales figures are hard to pin down, but the Gluskin-Townley Group, which does market research for the National Bicycle Dealers Association, estimates 10,000 electric bikes were sold in the U.S. in 2007, up from 6,000 in 2006. Bert Cebular, who owns the electric bike and scooter dealership NYCeWheels in New York, said his sales are up about 50 percent so far this year over last. Amazon.com Inc. says sales of electric bikes surged more than 6,000 percent in July from a year earlier, in part because of its expanded offerings."