President Set To Announce Deal To Boost Fuel Economy
WASHINGTON (AP) – President Barack Obama and top auto executives are set to unveil details of a compromise to slash the amount of gasoline cars and trucks will need down the road.
The deal, to be announced Friday, will double fuel economy standards to 54.5 miles per gallon by 2025 and further restrict the tailpipe emissions blamed for global warming.
In a concession to automakers, light trucks – which are among their best-selling vehicles – would get easier treatment at the outset. The deal also includes a midterm review and credits for solar-paneled roofs and battery-powered cars that could allow fleets to fall short of the target.
President Obama’s spokesman said the deal would save drivers money at the pump, reduce oil consumption and pollution, and create jobs.