Remove Cash For Clunkers Remove Economy Remove Gasoline Remove Stimulus
article thumbnail

Brookings analysts recommend against repeating cash for clunkers program in future recession

Green Car Congress

After the “clunker” was traded in, its engine was destroyed. 677,842 clunkers were traded in between 1 July 2009 and 24 August 2009 as part of the program, which issued $2.85 The program resulted in a small gasoline consumption reduction of 884 to 2,916 million gallons—equivalent to about only 2 to 8 days’ worth of current usage.

article thumbnail

Study Concludes Cash for Clunkers Program Is an Expensive Way to Reduce Carbon; Paying Nearly 10x the Projected Price of Carbon Credits

Green Car Congress

The federal government’s Cash for Clunkers aims to stimulate the economy, provide relief for automobile manufacturers and reduce greenhouse gas emissions. Knittel did not analyze the program’s other key objectives: stimulating the economy and providing relief for automobile manufacturers. However, the. pollutants.I