for CAFE Standards
The geopolitical events of today are a perfect reminder of why the country must not come to an impasse over fuel efficiency standards.
Lost in the albeit important discussion of the environmental benefits of CAFE is the pivotal role that they have played in reducing U.S. oil consumption and putting the nation on a path to making the rare transition from being a net importer of oil to being a net exporter.
'Fuel economy regulations are a preemptive strike against collusion and market-distorting behavior. In fact, current regulations will eliminate 12 billion barrels of oil imports between 2015 and 2040.'
The Mid-term Evaluation for fuel economy standards opens the door to including new vehicle technology, such as autonomy, in federal regulations, a development that could lead to even greater efficiency in the longer term.
Last year, consumers globally saved 870 million barrels of oil as a result of efficiency improvements since 2000. Germany and China have been more successful in maintaining fuel economy gains during low oil prices.
Maintaining CAFE Standards and EV Tax Credit Consistent with Trump’s Plan to End Dependence on OPEC Oil
The 2016 election could turn out to be a big win for the oil and gas industry, as Trump has championed deregulation and a rollback of a number of environmental measures.
Like presidents before him dating back to Richard Nixon, Barack Obama pledged to reduce dependence on crude oil imports and sever the country’s reliance on OPEC oil. But unlike others, Obama saw overall energy security improve markedly during his presidency.
Business executives and former military leaders launched recommendations this week for reducing dependence on oil and fostering the development of technological advancement in the transportation sector.
Semi-autonomous driving features like advanced cruise control can impact vehicle efficiency by up to 10 percent, but current regulations don't test for these technologies.