Riding has always been FAR cheaper for me than driving...it always has been by leaps and bounds.
Insurance+upkeep+gas(energy)+car payment(optional) > bicycle+food(energy)+gadgets+etc. I ride in the clothes I'd be wearing if I weren't commuting (t-shirt and shorts, mainly) so my laundry costs aren't all that different. Plus, having a toddler in the house means I'm doing laundry a lot anyway so topping off the load with my own clothes only makes sense from an economic and resource standpoint.
I'm pretty much forced to drive right now because of where we live and it suuuuuuuucks. We are moving back the area we moved away from in a few months and I'm selling my car before we move.