‘Along with Fuel Efficiency, Auto Sales & Profits Are Up’
Higher fuel economy standards from the Obama administration are already saving money for consumers – and they are helping the auto industry too, says the Natural Resources Defense Council.
By raising automobile fuel efficiency standards to the equivalent of 54.4 miles per gallon (on average) by the year 2025, the regulations “will save consumers thousands of dollars at the gas station each year, create half a million jobs and take the biggest step ever to combat global climate change,” NRDC says. The combined savings of the first and second round of the Obama fuel efficiency standards through 2025 will cut oil imports by one-third and reduce carbon pollution by the amount equivalent to the emissions from 90 million cars, the organization says.
A new Driving Growth website is a collaborative effort of NRCD, the National Wildlife Federation, and the League of Conservation Voters.
“What critics miss about the wisdom of setting strong fuel efficiency standards is that manufacturers throughout the auto supply chain gain certainty for what innovative and efficiency-boosting products they should invest in,” NRDC transportation director Roland Hwang said in a release.
The new federal standards will roughly double the mileage today’s cars, NRDC says, and spur $300 billion in new investments in the auto industry.
When combined with the administration’s first phase of fuel-efficiency standards, the new rules will put $1.7 trillion back into consumers’ pockets over the life of the program.
“Stronger standards are driving to market the gas-sipping models that consumers are demanding,” NRDC says. “Along with fuel efficiency, auto sales and profits are up this year, showing a strong link between innovation, new technology and economic opportunities for American workers and American companies.
“Since June 2009 when the industry hit bottom, the American auto industry has grown 24 percent and added 150,000 jobs in motor vehicle and parts manufacturing…
“We believe finalizing the 54.5 mpg standard will only lead to more jobs.”
“As members of Congress head back to their districts this month, leaving ideological gridlock and way too much unfinished business behind in Washington,” says NRDC, “this summer story will represent that the president, the auto companies, and environmentalists have, once again, shown what can be accomplished by constructive compromise.”
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Source: Natural Resources Defense Council, Ford