(NAPSA)—A bill passed by Congressthis yearis helping recycle steel, which in turn saves energy andvaluable natural resources. By providing up to a $4,500 voucher toward the purchase of a new car, the Cash for Clunkers pill encourages drivers to turn in their gas-guzzling clunkers and buy a more environmentally friendly model. One reason that the bill has the backing and support of both the American Iron and Steel Institute (AISI) as well as the Steel Recycling Institute (SRD is that every scrap of steel from every clunker bought by the government is getting immediately recycled. Each car contains around 1.2 tons of steel, so it is estimated that the program will yield more than 300,000 tons. Therecyclingof the steel is not the only benefit: For every ton of steel recycled, more than 2,500 poundsofiron ore, 1,400 pounds of coal and 140 pounds of lime- stone will be conserved. It’s one of the many ways by which thesteel industry is working to conserve resources. Here’s how the bill works. The voucher, combined with already reduced car prices, may encourage a driver to purchase a new car that is less costly to drive. Let’s say your car is worth only $500, gets less than 18 miles per gallon and requires expensive regular maintenance as well as guzzles fuel. For many, it seems like a win- win situation. People using the Every time a clunker is turned in for a voucher, tons of steel are recycled and precious resources are conserved. voucherget to tradein old clunker cars for brand-new ones; the automobile industry sees an increase in the demandfor new cars, which creates morejobs; thesteel industry getsall the recycled steel from the sold clunker cars, which also creates more jobs; the economy gets a boost from people spending money again; and the environmentis protected from the gasoline emissions of fuel-inefficient vehicles. “Our current economic climate actually favors the guys driving the clunker, if you think about it,” said Bill Heenan, SRI president. “This bill is, at the sametime, creating morejobs, stimulating the economy and improving our air quality.” For more information on the Cash for Clunkers program,visit www.cars.gov. For information on recycling automobiles and all steel products, visit www-recycle-steel.org.
