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Yes, because we can choose to change habits and priorities and adjust personal budgets, or make more money and deal with it that way.

I see telecommuting (both part-time and full-time) potentially exploding because of high gas prices. Even in a recession (and US recessions have pretty low unemployment rates relative to the rest of the world), or perhaps especially during a recession, companies aren't going to be able to attract and retain top-notch employees based on what they can afford to pay in salaries alone.

Allowing me to work from home two days a week amounts to a 25-30% reduction in my gasoline expenses (with smaller actual dollar savings when it comes to wear/tear/maintenance on my car), and that works out to an extra $150 per month in my pocket if gas prices hit $4 a gallon.

“Allowing me to work from home two days a week amounts to a 25-30% reduction in my gasoline expenses....”

Of course. The only downside for those that telecommute is that they will be the first to be let go when times get bad. If the boss doesn’t see you...you’re out of site...out of mind...out of a job.