New vehicle fuel efficiency standards agreed to by Congress will help conserve oil, though the US will still lag behind many other industrialized nations.
Congress can also ease the sting if new technologies raise vehicle costs by extending tax credits, though I suspect that competition will help lower potential price increases.
So Congress is actually poised to do something. A good sign.
At least the new standards will have set mpg requirements for light trucks and cars. However, I will bet that this will have zero effect on our oil dependence. This was not the way to go. The gas tax increase would have been better. Then that money could have been used for either public transportation or funding social security. The CAFE standards are stupid
ReplyDeleteI agree with John P. A gasoline tax hike is a better, more honest way to accomplish the end goal.
ReplyDeleteThe American public wants bigger vehicles. Increased MPG standards will raise the price of larger vehicles and encourage people to keep their big vehicles longer. Ultimately there will be some savings, but I dislike the government telling me what I can or can't drive. Raise the gas tax and let people choose.