WASHINGTON – A government plan for new national fuel economy standards is stirring up debate during a 60 day public comment period.
Usually separated by a distinct line, big industry and environmentalists are now together in applauding the President's proposal for the new fuel economy standards.
Under the plan, automakers must increase average fuel economy ratings to 35.5 miles per gallon by 2016. This is four years sooner than under the current law. It is also eight miles per gallon better than current fuel averages.
"The new standards are aggressive and achievable. And ensure that consumers have a full range of vehicle choices," says Lisa Jackson, EPA Administrator.
The new standards could translate into more car sales for American automakers. But critics worry the plan could be confusing in practice. Another concern is the cost of creating more eco-friendly vehicles.
"There's a lot more parts that go into a car, there's a lot more cost that goes into a car. Automakers are going to pass at least some of that if not all of it along to the consumer," says David Whiston an Equity Analyst for Morningstar.
The government says the new standards would save consumers $3,000 in fuel costs.
It is projected the vehicle regulations will raise new car and truck prices by an average of $1,100.
The regulations will go through a 60-day public comment period before they would become final early next year.
To read President Obama's official press release for the new standards click here:
http://www.whitehouse.gov/the press office/President-Obama-Announces-National-Fuel-Efficiency-Policy/
