economic recessions , such as the 1973 and 1979 energy crises . The effect the price of oil has on an economy is known as a price shock . In many European countries, which have high taxes on fuels , such price shocks could potentially be mitigated somewhat by temporarily or permanently suspending the taxes as fuel costs rise. [ 140 ] This method of softening price shocks is less useful in countries with much lower gas taxes, such as the United States. A baseline scenario for a recent IMF paper found oil production growing at 0.8% (as opposed to a historical average of 1.8%) would result in a small reduction of economic growth from 0.2 to 0.4%. [ 141 ] Prior to the run-up in fuel prices, many motorists opted for larger, less fuel-efficient sport utility vehicles and full-sized pickups in the United States, Canada, and other countries. This trend has been reversing because of sustained high prices of fuel. The September 2005 sales data for all vehicle vendors indicated SUV sales dropped while small cars sales increased. Hybrid and diesel vehicles are also gaining in popularity. [ 143 ] EIA published Household Vehicles Energy Use: Latest Data and Trends [ 144 ] in Nov 2005 illustrating the steady increase in disposable income and $20–30 per barrel price of oil in 2004. The report notes "The average household spent $1,520 on fuel purchases for transport." According to CNBC that expense climbed to $4,155 in 2011. [ 145 ] This