On Friday, July 29th President Obama announces an national effort to improve fuel efficiency for new fuel efficiency standards for passenger cars and light trucks. The new U.S. fuel economy average will start with 2017 models and increases by the year 2025 cars to 54.5 mph (an increase of 5%); light trucks will increase by 3.5% + 5%. The price of the more fuel efficient automobiles will cost more but the savings in the amount of gasoline consumed will be an offset.
Ceres, a national coalition of investors and public interest organizations, released a report detailing what stronger fuel economy and greenhouse gas standards would mean for the U.S. economy. In the Ceres report titled “More Jobs Per Gallon” report it showed that President Obama’s new 54.5 mpg fuel efficiency standards we can expect:
* Approximately 484,000 new jobs in the United States by 2030. * 43,000 of those would be full-time jobs in the auto sector. * Consumers would save approximately $107 billion at the pump in 2030 compared to business as usual. * 49 states would see net job gains.