New 54.5 mpg fuel efficiency standards will cut U.S. oil imports by one-third.
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The new fuel-efficiency standard will affect cars starting in 2017, meaning automakers will need to start making incremental increases in fuel efficiency to hit a combined average of 34.1 mpg within five years. By 2025, the goal is to approximately double the efficiency of today’s vehicles, and the new requirement has the support of 13 major car manufacturers, which account for 90 percent of all vehicles sold in the U.S. (emphasis ours)
Consumer costs aside, the regulations are projected to cut U.S. oil consumption by 12 billion barrels, or 2 million barrels a day by 2025 – approximately half of the United States’ OPEC imports. For the environmental benefit, the Obama Administration estimates an emission reduction to the tune of 6 billion metric tons by 2025, and a growth of domestic jobs in the auto industry.
The requirement builds on the administration’s requirements for model years 2011-2016, which raised average fuel efficiency by 2016 to the equivalent of 35.5 mpg. “These fuel standards represent the single most important step we’ve ever taken to reduce our dependence on foreign oil,” said President Obama. “It’ll strengthen our nation’s energy security, it’s good for middle class families and it will help create an economy built to last.”
There is no question that the US can lead the world towards sustainability.