From the NY Times opinion section:
When my students and I studied cruising for parking in a 15-block business district in Los Angeles, we found the average cruising time was 3.3 minutes, and the average cruising distance half a mile (about 2.5 times around the block). This may not sound like much, but with 470 parking meters in the district, and a turnover rate for curb parking of 17 cars per space per day, 8,000 cars park at the curb each weekday. Even a small amount of cruising time for each car adds up to a lot of traffic.
Over the course of a year, the search for curb parking in this 15-block district created about 950,000 excess vehicle miles of travel — equivalent to 38 trips around the earth, or four trips to the moon. And here’s another inconvenient truth about underpriced curb parking: cruising those 950,000 miles wastes 47,000 gallons of gas and produces 730 tons of the greenhouse gas carbon dioxide. If all this happens in one small business district, imagine the cumulative effect of all cruising in the United States.
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THE Lowly Peon
[17 October 2010]And SF has an interesting solution: http://www.engadget.com/2010/08/07/san-francisco-rolls-out-new-smart-parking-meters-with-demand-re/