Christopher Knittel,an economist at the University of California,Davis,estimated that the government could have gotten 10 times more carbon reduction by spending the $3 billion in used in the Cash for Clunkers program in the market for carbon offsets.

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Christopher Knittel, an economist at the University of California, Davis, made this estimate in a 2010 study published in the Journal of Environmental Economics and Management. He argued that the $3 billion spent on Cash for Clunkers could have resulted in up to 64 million metric tons of carbon dioxide emissions reductions if invested in carbon offset markets, compared to the 4 million metric tons that were estimated to be saved through the program.

Christopher Knittel,an Economist at the University of California,Davis,estimated That the Government