The Obama administration’s new proposal to double the fuel efficiency of cars by 2025 may cost up to $157 billion and add $2,000 to the price of passenger automobiles, according to two federal agencies.
In the proposed rule posted on their websites, the National Highway Traffic Safety Administration and the Environmental Protection Agency predict the administration’s new Corporate Average Fuel Economy (CAFE) standards would add an average of $2,000 to the price of each new passenger vehicle sold by 2025.
The NHTSA attributes the increased consumer costs to the price of developing new fuel-saving technology. However, the highway agency predicts the costs of the new standards would be offset by benefits of $419 billion to $515 billion.
President Obama said the rule, negotiated by the administration and a number of automakers in July, was a successful effort to reduce U.S. dependence on foreign oil.
The proposed rule would go into effect in 2017 and requires annual fuel-economy increases of five percent for cars. Ultimately, the rule would require automakers to reach an average of 55.4 miles per gallon for passenger cars by 2025. The current CAFE standard for 2011 is 30.2 mpg.
Light trucks like pickups and sport utility vehicles would only be required to raise fuel economy by 3.5 percent the first five years the rule would be in effect. After that, trucks would also be required to increase fuel economy by five percent a year.
Semi-trucks from model years 2014-2018 would have to achieve an approximate….
Read more from C.J. Ciarmarella at The Daily Caller.
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Just whose side is this FRAUD on………certainly not Americas !!
Let's all grab our ankles and get ready for another round of inflation. Just like the one that DOES NOT exist right now!
Let free enterprise and competition for the car dollar rule the market and improve the standards with government on the side lines…offering incentives to the car makers.
Let go to the shelves of the big three auto makers and all world wide and release patents that they have bought off for the last 50 yrs. Patents on everything from super thrifty carborators to oil filters that last 10 times the norn and clean better than anything on the market today.
Stop the nonsence!!!
It's must be really tough to spend other peoples money. Let's all be sure to re-elect this great leader so we can ensure that the country moves from the toilet into the sewer efficiently. Praise The Obama, a legend in his own mind.
i will drive my old car i dont a new one.
So will I, Mr Murry. I will drive my 1988 Toyota Celica turbo All-Trac until I can’t get routine maintenance parts for it anymore. I don’t know, or care, what it gets for city or highway gas-mileage (at the usual highway speed-limit) — all I know, and care about, is it gets 28MPG at 100MPH on cruise control and I can fix it with basic hand tools.
Since Obama fuel standard will kick up the price of new cars 2 thousand or more ask your Senators/Congress what tax reduction will they impose since the bottom line as to who will pay the 2 grand is the tax payer. Tell them we should have a 2 grand reduction in taxes if we purchase a vehichle with the new fuel standard.