Bruce Yandle says CAFE Regulation is a Sham and a Shame

Bruce Yandle writes wisely. Here are two nuggets.

1. CAFE standards imposed in the 1970's had the unintended consequence of increasing demand for SUVs and light trucks.
2. "instead of overhauling the aging fuel efficiency apparatus—perhaps even moving to a straightforward tax on carbon emissions—politicians added more ornaments to the fuel economy Christmas tree." ... "Now we're left with a maze of regulations and rules that I doubt anyone can fully explain. The industrial organization that results is so opaque that no one can tell what anything really costs when factoring for the credits, subsidies, or tax breaks paid for or enjoyed by all involved."
3. "Why not wipe the slate clean, support carbon and other offset markets to reduce undesirable emissions, and let the chips fall where they may? It may take time, but customers and automakers can respond more effectively than the regulatory state has."