By Bob Wendelgass, President and CEO
Today, the Obama Administration announced it is finalizing a new rule that will require automakers to increase the average fuel efficiency of cards and light trucks to 54.5 miles per gallon by 2025.
By 2025, the US Environmental Protection Agency (EPA) estimates that these new standards will cut greenhouse gas emissions by cars and light trucks in half and reduce U.S. oil consumption by 12 billion barrels of oil. More important to consumers, EPA estimates the changes will save consumers $1.7 trillion dollars in fuel costs and result in an average fuel savings of more than $8,000 per vehicle.
A study from the American Council for an Energy-Efficient Economy and the Blue-Green Alliance estimated that “the standards would create more than a half million jobs by 2030, including 50,000 jobs in auto manufacturing.”
Oh, and by the way, the proposed rules have the support of 13 major automakers, who according to the EPA, make 90% of the cars and light trucks sold in the US.
What does Mitt Romney say about the rule? For months, he has vowed to stop EPA efforts to reduce CO2 emissions from cars and trucks. According to the Washington Post, he repeated his opposition during a speech in Detroit back in February of this year.
So, President Obama has approved a rule that will save consumers trillions of dollars in fuel costs, reduce greenhouse gas emissions and create more than a half million jobs…while Mitt Romney would kill the rule.
And some people think there’s no difference between the two candidates?