Obama Unveils Ambitious Fuel Efficiency Standards

Law360, New York (July 29, 2011, 1:41 PM EDT) -- President Barack Obama said Friday his administration had struck a historic deal with 13 auto manufacturers to raise fuel efficiency standards for cars and light-duty trucks by 2025, a move he said would save consumers almost $1.7 trillion in fuel costs.

The proposal would boost the average fuel economy of cars and trucks to 54 1/2 miles per gallon in 2025, a significant jump from the goal of 35 1/2 miles per gallon set for 2016.

Obama said the new standards would result in fuel savings...
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