Obama propos­es big fuel standards hike

17df2cd6af0991edd6f91dd12f22b96c

Several major automakers have embraced the Obama administration’s proposal to push the industry further away from once-dominant gas guzzlers to more lean and efficient vehicles.

The proposal, which is the result of months of negotiations between the Obama administration and automakers, would require the companies to reach an average fuel efficiency across their U.S. fleets of 54.5 miles per gallon by 2025.

“This agreement on fuel standards represents the single most important step we’ve ever taken as a nation to reduce our dependence on foreign oil,” Obama said.

Flanked by top automaker executives, Obama said the new rules would lower the country’s oil use by 2.2 million barrels a day over the next 15 years.

“Can we do it? Well, we put a man on the moon; of course, we can do this,” said Fadel Gheit, senior analyst at Oppenheimer.

While fleets would be required to reach corporate average fuel economy, or CAFE, standards of 54.5 mpg, under real world driving conditions that can sap fuel economy, consumers will likely get fewer miles per gallon in many cases.

The goal is still a major step up from current standards that require auto makers to achieve 35.5 mpg by 2016.

“Many OPEC oil ministers are now having sleepless nights, because of the millions of barrels of oil … the U.S. will now not be importing,” Democratic U.S. Rep. Edward Markey said. Markey was co-author of the law that mandated higher fuel economy standards.


News
Entertainment
Sports
Lifestyle
National

New statue of Penn State's Paterno set for…

By David DeKokHARRISBURG, Pennsylvania (Reuters) - Fundraising for a new statue depicting Joe Paterno "as the man he was and not Joe the football coach"…

Local

Future Boston Alliance invites you to #RidetheLine, support…

#RidetheLine aims to show the city, the nation, and the globe our creative impact as Boston citizens.

Local

(Update) Body of missing BU grad Eric Munsell…

The dead man pulled from the water at Boston's Long Wharf Wednesday afternoon was that of missing 24-year-old Boston University alumnus Eric Munsell, Boston Police said today.

National

On newly released tape, 'Squeaky' Fromme says was…

Manson Family member Squeaky Fromme told a mental health examiner in newly released interview the "X" she carved in her forehead was meant to separate her from "the system."

Music

Championship of Collegiate a Cappella: Students who are…

Tickets to this Saturday’s International Championship of Collegiate a Cappella reportedly sold out within 11 hours of going on sale.

Music

M.I.A. talks 'Matangi,' divinity, spontaneity and holograms

"There’s pressure for me to become a theatrical production like 'Glee,' or something" says M.I.A., "It’s like, 'the pressure’s on, bitches.'"

Movies

Tribeca: 'Goodbye to All That' star Paul Schneider…

Paul Schneider talks about his new film "Goodbye to All That," not acting too much and how he'd rather indulge in simple pleasures than play the scene.

The Word

Taylor Swift battles paparazzi daily at Tribeca penthouse

We're entranced by these photos of poor Taylor Swift leaving her Tribeca apartment.

NHL

NHL video highlights: Bruins edge Red Wings in…

NHL video highlights: Bruins edge Red Wings in overtime of Game 4

MLB

MLB video highlights: Yankees rout Red Sox, 14-5

Felix Doubront struggles for second time in five starts

NBA

Jason Collins named to Time's 100 Most Influential…

Jason Collins was named to the list after coming out as the first openly gay player to appear in an NBA game.

NFL

2014 NFL Mock Draft: Updated, new April 24…

2014 NFL Mock Draft: Updated, new April 24 version

Parenting

New study: Inside the wage gap between boys…

According to a new study, there's a wage gap between boys and girls, with boys earning more allowance for less chores.

Tech

From Apple TV to Fire TV, big changes…

Apple is set to launch a new generation of it's Apple TV, which grossed over $1 billion in 2013. But competition from Amazon and Google looms.

Style

Katy Perry releases a new Claire’s collection

Katy Perry expands her empire by releasing an accessories collection at Claire's.

Style

MAC & Proenza Schouler collection unveiled

MAC Cosmetics is releasing a new collection with Proenza Schouler.