New Fuel Emission standards Set by the Obama Administration

The new fuel economy standards for cars and light duty trucks, finalized by the Obama Administration today, raise the bar to 54.5 mpg to be achieved by the Model Year 2025. In the press release marking the release of the new  path-breaking standards, President Obama is quoted as saying, “These fuel standards represent the single most important step we’ve ever taken to reduce our dependence on foreign oil. This historic agreement builds on the progress we’ve already made to save families money at the pump and cut our oil consumption. By the middle of the next decade our cars will…