Historic Fuel Efficiency Standards for Cars and Light Trucks
Obama Administration Finalizes Historic 54.5 mpg Fuel Efficiency Standards/ Consumer Savings Comparable to Lowering Price of Gasoline by $1 Per Gallon by 2025
Larry
Obama Administration Finalizes Historic 54.5 mpg Fuel Efficiency Standards/ Consumer Savings Comparable to Lowering Price of Gasoline by $1 Per Gallon by 2025
The Obama Administration today finalized groundbreaking standards that will increase fuel economy to the equivalent of 54.5 mpg for cars and light-duty trucks by Model Year 2025. When combined with previous standards set by this Administration, this move will nearly double the fuel efficiency of those vehicles compared to new vehicles currently on our roads. In total, the Administration’s national program to improve fuel economy and reduce greenhouse gas emissions will save consumers more than $1.7 trillion at the gas pump and reduce U.S. oil consumption by 12 billion barrels.
The program also includes targeted incentives to encourage early adoption and introduction into the marketplace of advanced technologies to dramatically improve vehicle performance, including:
Incentives for electric vehicles, plug-in hybrid electric vehicles, and fuel cells vehicles;
Incentives for hybrid technologies for large pickups and for other technologies that achieve high fuel economy levels on large pickups;
Incentives for natural gas vehicles;
Credits for technologies with potential to achieve real-world greenhouse gas reductions and fuel economy improvements that are not captured by the standards test procedures.
Larry