Filed under: Capitalism, Economy, Energy, Progressivism | Tags: Democrat Demagogues, Economy, Environment, Gas Prices
The Transportation Department has released its requirements for the first increase in passenger car fuel efficiency in 25 years — the first step in what will be extensive reform for the nations truck and car fleets. The standards for model year 2011 passenger cars will have to average 30.2 mpg, and light trucks 24.1 mpg for cars that will hit the showrooms in September of 2010. Look for more increases to come.
The new fuel efficiency standards are estimated to cost the auto industry $1.5 billion. The National Highway Traffic Safety Administration said that price increases as a result will average $64 for passenger cars and $126 for light trucks. Passenger car buyers will be repaid in fuel savings in an average of 4.4 years, or in 7.7 years for pickups, SUVs or minivans.
Do you get the feeling that the right hand knows not what the left hand is doing? This is, I believe, the same auto industry that is receiving bailouts and needs more?
Representative John Dingell, D-Dearborn, said that Obama and his aides “recognize the auto industry is in a period of transition.” I guess you could call it a “transition.”
Representative Ed Markey,D-MA, chairman of the House Select Committee on Global Warming and Energy Independence, praised the regulation.
With gas prices once again on the rise, I am pleased to see the Obama administration taking this historic first step towards reducing our dependence on foreign oil and helping revitalize the domestic auto industry. I look forward to working with the president to ensure that future standards are based on realistic assumptions and sound science.
I do not pretend to understand this. I guess it all makes sense if you believe that global warming is a vast danger to the earth, that extracting petroleum from American earth is something akin to rape, and that charging the auto industry another billion and a half will fill their empty coffers. But then I have no idea how to build a car.
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