Just doing the math here on this...
Under the new vehicle standards, U.S. passenger vehicles and light trucks must average 35.5 miles per gallon by 2016, which President Obama said would save 1.8 billion barrels of oil over the lifetime of the program.
The plan was praised by automakers and environmentalists but means higher price tags for consumers. Officials said they would recoup the money with lower fuel costs.
The new program, the administration said, will add about $600 to the price of producing a vehicle compared to current law. This requires automakers to achieve a fleet average of 35 mpg by 2020, a 40 percent increase over today's performance.
The plan could cut deeply into voracious U.S. gasoline demand, dealing another blow to a refining sector hard hit by recession and bracing for more climate legislation.
...2016...How about NOW! Why wait 7 years? The automakers are holding out.
...higher price tags for consumers...$600.00? Really now?
...recoup the money with lower fuel costs...Who are these officials? Okay, gas is around $2.529 per gallon here in the valley. It was $1.879 back on January 5, 2009. Am I missing something here?
...automakers to achieve a fleet average of 35 mpg by 2020, a 40 percent increase over today's performance...Okay, now, if cars and trucks become more fuel efficient, that means Americans will be stopping less to refuel during commutes or vacations. Money in the pocket? Not for long.
...refining sector hit hard by recession...Okay, I interpret this meaning that oil companies will argue that they should increase the price of gasoline since Americans will be buying less and to keep from laying off workers. Wait, oh, that's why the gas prices are going up. Ain't nobody refining!
Solving for "x"...problem solved...the moonshiners were onto something: White lightning...aka ethanol.
