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Some of the tram schemes built since 1992 have failed to reach their passenger targets. Sheffield achieved 12 million passengers in 2003 against 22 million expected. Birmingham had 5 million passengers against 8 million projected. However the operating losses sustained (again 2003 figures) are insignificant: £200,000 for Sheffield, £11 million for Birmingham. And it's early days: if the trams are so close to break-even at this point, that augurs well for 10 years time when oil will surely be far more expensive in real terms. It's the same as the popular press trick of deriding a half-empty Park and Ride park 2 weeks after it opens.