Regarding car efficiency versus speed:
Quite a large amount of the losses for a vehicle are internal frictional losses.
A simple illustration of this is observing how much longer one's vehicle can coast at high speed if one shifts into neutral first (rather than just taking one's foot off the gas pedal but staying in gear). That merely eliminates some of the ordinary frictional losses, but even such makes a very noticeable difference.
With a manual transmission, I've often seen good results from going fast, shifting into neutral, coasting for a long time until speed drops by 10 mph, then applying a little gas again, and repeating. It's especially good going downhill, although judgment must be made depending on the local traffic and road as to whether or not that is a safe option on a particular hill; one doesn't want to speed out of control.
Of course, this is mentioned for illustrative purposes only. Although able to much increase gas mileage, apparently coasting is said to be illegal in some states for safety and control reasons; one can be more dependent on the reliability of brakes.
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To illustrate a principle with an extreme example, any vehicle would get terrible miles per gallon if one drove it around at 5 mph. By the time one had spent 14 hours to travel 70 miles, one would have consumed vastly more gasoline than if one traveled that distance in 1 hour at 70 mph, even though the former slow speed had vastly less loss from air drag.
The engine consumes a substantial amount of gasoline even when just idling. Even when just 1000 rpm, there's a lot of power demanded to keep it going.
For the average vehicle, peak fuel economy went from being at around 40 mph in 1973 to
become around 50-55 mph in the late 1990s. And it declines only slowly at first for speeds a little greater. For example, the average vehicle in 1997 could get better fuel economy at 60 mph than at 40 mph.
By now, another decade has passed. In 2008, with still fewer old vehicle designs around than in 1997, the situation should be still better. Probably many of today's vehicles obtain peak mpg at 60 mph or higher, and going at 70 mph should often give very similar mpg to 55 mph. Eventually mpg decreases drastically, but it can take speeds well beyond that to have large decline, depending on the particular vehicle.