Dennis Desrosiers of Desrosiers Automotive Consultants says the Vehicle Efficiency Initiative announced this week in the federal budget may be the most expensive program yet in terms of dollar per tonne of reductions of greenhouse gases:
“ Another quick back of the envelope calculation on this whole feebate fiasco:
- $14 per litre of reduced fuel consumption
- each litre combusted emits 2.5 kgs of GHG
- 400 litres of fuel combusted results in one tonne of GHGs emitted
- 400 litres X $14/litre = $5,600 per tonne of GHG emissions reduced
At $5,600 per tonne this policy has the dubious distinction of being even more expensive per tonne of GHG reduction than the previous record holder – the Conservatives' transit pass tax credit ($2,000 per tonne, because about 97% of the subsidy recipients were already daily transit riders). [in fact it’s] The most expensive environment program anywhere in the world by a wide margin.
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