5 Years in, Fuel Economy Standards Put Savings in Drivers’ Pockets
by David Friedman (The Hill/Consumers Union) What if our government rolled back a program that saved consumers over $45 billion on fuel since 2010? What if they did this despite the fact that the industry involved enjoyed record sales and profits at the same time? That wouldn’t make sense, would it? But that’s exactly what may happen with the federal fuel economy program — one of America’s most successful efforts to reduce our oil use, cut down on pollution, and save consumers money.
This month marks the fifth anniversary of our country setting targets to nearly double the average miles per gallon of cars and trucks by the year 2025 and providing net savings for consumers throughout the program. Between 2022-2025 alone, the standards are expected to save consumers over $90 billion in fuel costs and position the US to continue leading the world in auto innovation. However, as we commemorate this milestone, the government is taking steps to roll back this commonsense program.
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The average new vehicle efficiency has increased by more than 5 miles per gallon over the last decade. According to the Union of Concerned Scientists, that translates to more than $45 billion saved for consumers. That’s $45 billion pumped back into local communities as families have more money to spend on local goods and services, helping to boost our economy and create jobs.
With the existing standards in place, fuel efficiency is expected to improve even further. By 2025, households buying new vehicles can expect net savings of $3,200 per car and $4,800 per truck or SUV over the life of that vehicle.
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In recent months, policymakers in Washington have taken steps to start weakening our nation’s efficiency targets. The Environmental Protection Agency and the National Highway Traffic Safety Administration have started processes that could erase the success of the program — cutting savings for consumers significantly. Recently introduced bills in the House and Senate would have the effect of further reducing efficiency targets. If passed, consumers of larger vehicles like trucks, SUVs and minivans could be hit the hardest, as the changes to the program could completely stall efficiency improvements in those vehicles. READ MORE
Automakers Shouldn’t Fight Emissions Standards (The New York Times)
