The Jevons Paradox and the Rebound Effect

The U.S. imposed its first automobile fuel-economy regulations in 1975, a response to the Arab oil embargo. (If you’re old enough, you remember lining up to buy gasoline and odd-even days to fill up, based on your license number.) Since then, average miles-per-gallon has gone from 13.5 to about 27 now. (33 for cars, 24 […]