Good morning. Thank you, all, for joining us. In a moment, you'll hear from Lisa Jackson, my friend and colleague in the cabinet, and the EPA's outstanding administrator. You'll also hear from Jim Guest, President and Chief Executive Officer of Consumers Union, a longtime champion for consumer rights; and Kathleen Marvaso, Vice President for Public Affairs at AAA, a tireless advocate for consumers on vehicle safety, fuel efficiency, and conservation issues.
We're here today with some very exciting news. As you can see on these vehicles around the plaza, we're introducing new fuel economy labels that, one, help consumers understand and evaluate how they can save money at the gas station and, two, highlight the savings that families can anticipate as a result of the historic fuel economy standards that the Obama Administration has put in place. This is the single most significant overhaul to fuel economy labels since they first appeared on cars and trucks more than three decades ago. And it's part of President Obama's plan to ease American families' pain at the pump.
These labels will give consumers better, more complete information -- including expected savings over a five-year period, a fuel economy comparison to other vehicles in the same class, as well as guidance, on a scale of one to ten, about each car or truck's environmental impact. They will let consumers see, both in plain print and on their smartphones, how their family budgets will benefit from purchasing more fuel efficient cars -- whether they're gasoline, electric, or hybrid powered. These labels also represent another important mile-marker in the Obama Administration's mission to cut fuel costs for American families, reduce the nation's dependence on oil, and give Americans the tools they need to take advantage of remarkable new technologies that make today's cars cleaner and more efficient than ever before.
We've already established a national, 35.5 miles per gallon standard. This landmark accomplishment will save families an average of $3,000 over the lifetime of their vehicles -- and lead to savings of 1.8 billion barrels of oil. In a couple of months, we'll finalize the first-ever fuel standards for vans, buses, and trucks, which will save even more fuel and money for the American people.
So, the bottom line is this: These new window stickers are a win-win. They'll help consumers make informed choices and save money at the pump. And they'll help keep America moving down the road to energy independence.
So with that, I'm pleased to introduce Lisa Jackson. Thank you very much.