There’s a lot more in that Keith Hennessey post that Jim linked to other than the shocking revelation that CAFE won’t stop the oceans rising. By imputing things from previous NHTSA studies on CAFE, we learn that:
* This is pushing the boundaries of what is acheivable
* Rather than maximize societal benefits, the administration has deliberately chosen a pathway that provides zero net benefits
* GM workers will be pleased to know their new owners wants them out of a job — the measure will cost around 150,000 auto manufacturing jobs by 2015
* The federal government has caved to California, and preserved California’s power on the issue
* The EPA is now clearly in charge of this issue, not NHTSA, so any safety considerations be damned
* This clears the way for EPA action on stationary sources, which is where the real economic hammer blow lands
Meanwhile, we know one thing that has a clear effect on reducing emissions. Recession.