New York City Mayor, Michael Bloomberg, announced today that every yellow cab in the city would be a fuel efficient hybrid by 2012. Bloomberg plans to phase in the new taxis incrementally and estimates that the savings per taxi will add up to at least $10,000 per year.

While the plan will ultimately reduce carbon emissions by 200,000 metric tons, the city’s overall emissions total a whopping 58.3 million metric tons in 2005 alone! Let’s hope that this is one of many plans to reduce overall emissions.