With gas prices again on the rise and disruptions in oil and gas production expected as a result of Hurricane Isaac, the Obama administration today announced new standards that will nearly double the fuel economy of new cars and light trucks by 2025, saving Americans billions at the pump and reducing our dependence on foreign oil. The standards cover vehicle model years 2017-2025. The new fuel economy standards will save 3.1 million barrels per day by 2030 and 4.4 million barrels of oil per day by 2040. The U.S. currently imports 4.7 million barrels of oil per day from OPEC.
Congressman Edward J. Markey (D-Mass.), co-author of the 2007 legislative standards that led to the new 54.5 mpg standard, today said Republicans and their presidential candidate Mitt Romney should stop their efforts to block new fuel efficiency and global warming pollution standards that are already benefiting Americans with job creation, and more efficient vehicles that save consumers thousands of dollars over the lifetime of the vehicles.
"Mitt Romney may think it's okay to strap a dog to the roof of a car, but we shouldn't strap the American economy to higher gasoline costs and continued dependency on foreign oil. A Romney-Ryan administration would block the standards that are igniting the American automotive industry and bringing savings to American households. Mitt Romney and the Republican party would let Big Oil and OPEC drive America's energy agenda, with the American consumer left in the dust.
"These historic fuel economy standards are creating jobs in the economy, saving drivers money and striking fear in the hearts of Middle Eastern oil sheiks. But Governor Romney and Congressional Republicans want to jeopardize our energy security by putting Big Oil in the driver's seat of America's energy agenda. Automakers, labor unions, and environmentalists all agree that these standards are the best road to reduce our consumption of oil, create jobs and decrease the harmful pollution warming the planet."