article thumbnail

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

Green Car Congress

However, the cost of CO 2 reduced was comparable or lower than that achieved through less cost-effective policies such as the tax subsidy for electric vehicles, the analysis concluded. After the “clunker” was traded in, its engine was destroyed. Cost per job created. Click to enlarge. Cost per ton of carbon reduced. Click to enlarge.

article thumbnail

Perspective: Drive Star Conversion Program Could Cut US Oil Use in Half by 2020

Green Car Congress

While we’re fixing vehicles, we can also equip them with low-cost real-time MPG indicators that show us how to save money and still get to places quickly. We’ll add targeted incentives to jump-start this successor to the $4,500 “Cash for Clunkers” program. Right now, buyers of new plug-in cars get up to $7,500 in tax credits.

Oil 252