There is no slowing of "peak oil" - that is, running out of easily found, extracted, processed, and distributed oil. Oil that can be put to use without requiring more oil to get it than is gotten.
All this reducing "carbon footprint", replacing comfortable cars with motorized shoe boxes, etc., is rampant stupidity. Every bit that is saved by being "environmentally conscious" is undone by the extra resources consumed by uncontrolled dropping of litters of human spawn. It's called rampant overpopulation. You want to save the environment? Spay and neuter.
BTW, that "cash for clunkers" is and will be a giant boondoggle. Obama, the Democrats, and even most Republicans are economic ignoramuses.
That "cash for clunkers" program epitomizes the "broken window" fallacy so well explained the Henry Hazlitt in his little book "Economics in One Lesson". Google it and/or look it up on Amazon.
But, it and similar will continue. Stupidity rules. And most people vote for it, being stupid themselves.