The truth might be a little hard on Wall Street, but, in the 1960s and 1970s when "The Greenhouse Effect" was taken seriously and the changes such as higher efficiency cars were built. What is best known as the CAFE (Corporate Average Fuel Economy) standards came into effect in 1975 (click here). They were well received by the public and when citizens purchased vehicles the fuel economy was a must on the window sticker.
Everyone did just fine. As a matter of fact, the new standards created more jobs in manufacturing the very mechanisms that would provide better fuel economy.
A more recent report is the Ceres report:
This Ceres report focuses (click here) on the economic impacts of strengthening fuel economy and greenhouse gas (GHG) emission standards for passenger vehicles sold in the United States. The analysis finds that stronger standards—more miles and fewer emissions per gallon—would lead to greater economic and job growth, both within the auto industry and in the broader economy as a whole.
This report comes as the Obama Administration and the state of California are developing new fuel economy and GHG emission standards for passenger vehicles for model years 2017-2025. Since light-duty vehicles account for more than 40 percent of U.S. oil consumption, and nearly 60 percent of mobile source GHGs, 1 the upcoming rules have important implications for energy security, protection from oil price spikes, and reducing global warming pollution....
