Stacey Vanek Smith: The Obama administration says it will unveil a new fuel economy standard today. It will double the fuel economy standards for cars to 54.5 miles per gallon. Carmakers will have to reach that goal by 2025. But European carmakers say the new rules discriminate against their cars that they sell to Americans.
Marketplace’s Stephen Beard reports from London.
Stephen Beard: A White House spokesman said the measure would improve fuel efficiency, cut pollution and save money for U.S. drivers. But under the new rules light trucks will get easier treatment. These are among the U.S. industry’s best-selling vehicles. While the Europeans tend to export luxury or high performance sport cars to the U.S.
David Bailey is professor of business at Coventry University.
David Bailey: It’s quite a clever trick by the U.S. government to say: Look we’re doing what we can to reduce oil consumption, cut pollution, create new technology jobs and at the same time penalize European producers as against American producers.
Beard: Other analysts say that if the U.S. were really concerned about fuel conservation it would tighten up the economy standard for light trucks — a major source of pollution and green house gas emissions.
In London, I’m Stephen Beard for Marketplace.
As a nonprofit news organization, our future depends on listeners like you who believe in the power of public service journalism.
Your investment in Marketplace helps us remain paywall-free and ensures everyone has access to trustworthy, unbiased news and information, regardless of their ability to pay.
Donate today — in any amount — to become a Marketplace Investor. Now more than ever, your commitment makes a difference.
Thank you to our Marketplace Investors!
Your generosity keeps nonprofit journalism strong, now more