What's going on with taxi cabs in New York?

AM: Oh, it's such an exciting story. Because of rules that Mayor Bloomberg recommended and the Taxi & Limousine Commission voted on, our greenhouse gas emissions are going to be reduced by three quarters of a percent by changes to our yellow taxis and black car and limousines alone. They are going to be following regulations which will make them significantly more efficient. Our yellow taxi cabs, all those cabs purchased after October 2008, are going to have to achieve at least 25 miles per gallon, which is double the efficiency of the existing Crown Victorias. The ones purchased after October 2009 will have to meet 30 miles per gallon. The same thing will hold through with a one year lag for the black cars and limousines. It's a huge story. These taxi cabs just drive so many miles. The payback for having an efficient car is huge. The payback within one year is $10,000 a year in gas. That's not even including this year's gas rates, which are likely going to go high. It's a really, ...  more