Obama Announces New 54.5 mpg Fuel Standard

President Obama has announced that model year 2025 vehicles will be required to have a fuel efficiency standard of 54.5 miles per gallon. On top of helping drivers save $1.7 trillion at the pump and reducing oil consumption by 12 billion barrels a day, the increase in fuel efficiency is also expected to decrease greenhouse gas emissions by six billion metric tons. The new U.S. EPA standard was developed with the support of thirteen major automakers, the United Auto Workers, and the state of California, according to EPA’s recent press release.