The news was a-twitter (no, not Twitter, the old-fashioned a-twitter) this weekend that the “Cash for Clunkers” program from the Stimulus is apparently so popular that it blew through the available funding in 5 days and Congress is tripping over itself to approve another $2B in funding (or as we say around here, one-half of a CRC).
Is this good or bad?
Good: Total fuel economy of fleet will improve
Bad: Standards for improvement of fuel economy are not high
Good: Sell more fuel efficient cars
Bad: Makes cars cheaper
Good: Turned in cars must be scrapped
Bad: Scrapping turned in cars wastes the energy that when into building them
Good: Extended program may include higher fuel economy improvement standards
Good/Bad??? Funds to extend the program are apparently being take from ethanol subsidies
My head is spinning…
