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Repealing Fuel Economy Standards To Cost American Households Nearly $1000 Per Year

14 Dec 2017, 15:01 UTC
Repealing Fuel Economy Standards To Cost American Households Nearly $1000 Per Year
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President Trump with U.S. auto industry executives and EPA Administrator Scott Pruitt (second from left) in Ypsilanti, Michigan. Image credit: Reuters / Jonathan Ernst.Think we’ll just responsibly choose more fuel efficient vehicles, and the market will take care of the rest? Good luck with that.Since the first oil crisis of the 1970s, there has been a concerted push to increase the fuel efficiency of automobiles in America. As oil prices have soared and become increasingly unstable, these increased fuel standards have become implemented nationwide. While demanding more of automakers, the increased cost has not been passed along to consumers, as entry-level vehicle prices have remained constant when adjusted for cost-of-living over the past 40+ years. Meanwhile, the increased fuel standards have saved low-to-middle-income Americans anywhere between 1% and 2% of their annual income: adding up to tens of thousands of dollars per family over a lifetime. This year, EPA administrator Scott Pruitt and the Trump administration have made moves to undo this progress. The cost will be tremendous, and borne by all American consumers.As vehicles have become more fuel efficient, the savings has been passed along to any American that not only drives, but uses any means of oil-based transportation ...

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