Freeman Spogli Institute for International Studies Program on Energy and Sustainable Development Stanford University


PESD News



August 19, 2009

"Cash for clunkers" not cost effective for carbon dioxide emissions reduction

in the news: New York Times on August 14, 2009

PESD affiliated faculty Michael Wara's assessment of the popular "cash for clunkers" program is cited in The New York Times. While the government's cash payments for replacing old cars with more fuel efficient new ones may have value as an economic stimulus, Wara calculates that they are an expensive way to fight climate change, at an estimated $200-400 per ton of avoided carbon dioxide emissions.