Companies support historic new fuel economy standards
By 2025, passenger cars and trucks will be averaging 54.5 miles per gallon. That’s what the new policy signed into law by President Obama last month states, and it’s a major step in transitioning the U.S. to a lower carbon economy. In 2010, BICEP companies wrote to the EPA, championing the economic benefits of these new standards.
Implementing strong fuel economy standards will save consumers money, which they can invest in goods and services…and [it] will protect jobs in manufacturing, agriculture, retail, and services, while boosting innovation in high-tech, clean-tech, and renewable energy firms.
Automakers are already experimenting with more hybrids and plug-in-electric vehicles, but the clear policies will give them the ability to make investments with more certainty. And they stand to benefit from greater fuel efficiency. A Ceres report, More Jobs Per Gallon, found that the 54.5 mpg rule would create nearly 500,000 new jobs nationwide and over 43,000 jobs in the auto sector.
In addition to job growth, a standard federal policy for increased fuel efficiency puts an end to the patchwork quilt of state regulations, simplifying the manufacturing process for automakers. It’s a win for lower emissions, a win for American workers, and a win for auto companies.