Thursday, August 27, 2009

Cash for Clunkers Wrap-up

The final statistics for Cash for Clunkers are in, and Joe Romm says the program was well worth it.

I don't see it that way at all, at least from an environmental point of view. According to my calculations, the program saves 140 M gal gas/yr, worth about $530 M/yr. However, this represents only 0.14% of all gas used by Americans.

Assuming these new cars are kept for a total of 8 years (it takes 4 yrs just to pay off the carbon footprint of their manufacturing), then the program will save 1.7 Mmt/yr, what the country emits in 2.5 hours. And for that we're paying about $410/mt CO2, a huge amount ["mt" = metric ton] -- roughly 10 times the Waxman-Markey bill.

Christopher Knittel, a transportation expert at the Univ of California at Davis, calculated a value of about $500/ton, with a wide possible range.

Romm wrote:
A 9 mpg gain translates into annual savings of 3.8 million barrels of oil per year and nearly $1,000 for consumers at the pump -– not to mention that it will reduce carbon dioxide emissions by 660,000 metric tons a year. Okay, not a cost-effective emission reducer, but still, given the multiple benefits of the program, pretty darn good.
How is this good? For all of us spending $3B, a small handful of Americans get a new car and savings of about $1000 a year in gasoline. The country will now use a grand total of 0.1% less gas. The environmental consequences are very, very small, and far overpriced at that.

This was an economic stimulus bill only, for auto dealers and those in the middle class who can afford to buy a new car with a trade-in. (This is the same middle class who by-and-large bitch about the size of government and its programs.)


Anonymous said...

Recommend some of Taiwan's high-quality sites so that you do reference and to share ~ and we wish everyone peace and happiness!

Insulation paper:隔熱紙,health foods:保健食品,Baby Cakes:彌月蛋糕
Kaohsiung County Tourism:高雄縣旅遊,>Kaohsiung yoga:高雄瑜珈,Shiba Inu:柴犬
Kenting Tourism:墾丁旅遊,cleaning companies清潔公司,cheese cake:乳酪蛋糕
Clothing wholesale:服飾批發,Vietnamese brides:越南新娘,brides from mainland China:大陸新娘
Shaping:整形,MOTEL:MOTEL,Japanese clothing:日系服飾
Jelly silicone:果凍矽膠,brides from mainland China:外籍新娘,Kaohsiung Tourism:高雄旅遊
Cake:蛋糕,yoga classes:瑜珈教室,Torque Wrench:扭力板手
Internet marketing:網路行銷,website ranking:網站排名,seo:seo

Anonymous said...

To do the right thing and have intimate friends are a happy thing ~
Your blog I very much like it, welcome to my website to visit Zhijiao!


Anonymous said...

Types of chocolate:
Commercially available chocolate and chocolate can be divided into thermostat thermostat-free chocolate, the so-called free thermostat chocolate, is chocolate containing cocoa butter composition of the separation, and then replace the cocoa butter to vegetable oils, due to low prices, easy and in the is not easy to melt under high ambient temperature have been widely used in commercial purposes, the French chocolate Technology Normal University are reluctant to use the thermostat-free chocolate.

Dalai Lama's public trip from August 31 to September 2. Dalai Lama plans on the 30th night entry from Taoyuan International Airport, 31 Chinese and foreign journalists will be held the morning, afternoon, and visits prospecting disaster victims, on the 1st of the trip was a public speech and the victims of the village, a modern place in Kaohsiung City Comprehensive Stadium, 2 No. Han God Dome Banquet Hall with Cardinal Paul Shan Kuo-hsi of the talk.

Anonymous said...

Well, technically, it was a program with multiple goals:

1) economic stimulus
2) save gas
3) reduce other pollutants (NOx, CO)

So, to decide whether it was worth it, you'd have to add the 3 benefits together.