A proposed rule by the Obama Administration to raise fuel economy standards for cars and “light-trucks” is facing mounting attacks by Republican lawmakers. The proposed rule would require all newly manufactured automobiles that fall under the car or light truck category to achieve a minimum gas mileage of 54.5 miles per gallon by the year 2025.
The crusade against the new CAFE standards is being led by Republican Darrell Issa, the chairman of the House Committee on Oversight and Government Reform. Issa claims that the new standards amount to “coercion” of the auto industry. Rep. Issa has received more than $188,000 from the oil industry during his career, according to the Center for Responsive Politics.
Issa’s statements show how out of touch he truly is with both economics and business, as the new standards were the result of cooperation between the Obama Administration and the auto industry itself.
The new fuel economy standards have been approved by Ford, GM, Chrysler, BMW, Honda, Hyundai, Jaguar, Land Rover, Kia, Mazda, Mitsubishi, Nissan, Toyota and Volvo, who together control 90% of the United States’ auto sales market.
Over the past year we have seen a growing body of public opinion critiquing varied aspects of what is now termed ‘...