text: Section III challenges the economic basis of AB 1493 and ARB's regulatory proposal. AB 1493 fails a reasonable cost-effectiveness test in two ways. First, even if the theory of catastrophic global warming were true, the emissions reductions achieved by AB 1493 would make no detectable difference in global temperature trends over the next 50 years. As environmental policy, AB 1493 is all cost for no benefit. Second, AB 1493 will raise the sticker price of new cars more than it will lower operating expenses for most consumers.