moonlog

David Friedman argues in defense of the Cash for Clunkers program on environmental grounds, saying 90 to 95 percent of the total energy used by a vehicle over its lifetime comes from fuel.

I guess that also shortens the gas-guzzling lifespan of clunkers on the road that aren’t being cashed in because cheap junkyard replacement parts will be in short supply.

But Friedman also says not to expect “meaningful” reductions in greenhouse gas emissions. That’s comforting.