Jul 29, 2009 -
Waste Not, Want Not
I always love it when the government thinks something completely through and has all the contingencies covered.
Cash for clunkers, couldn't be simpler, right? Give an incentive to get people into higher mileage vehicles and stimulate car sales at the same time.
The hitch in the giddyup is that the government is advising car dealers to replace a trade-in's engine oil with a sodium silicate solution and run the engine to ruin it before giving or selling the car to a scrap dealer. The engines have to be destroyed as if even the parts which could be used were some kind of toxic waste.
Engines and drivetrains account for 60 percent of recyclers' revenue from a used vehicle. Does this mean we need an auto scrap dealer bailout too?
Read more at the Associated Press
