July 29th, 2011 - White House Statement regarding fuel economy

President Obama Announces Historic 54.5 mpg Fuel Efficiency Standard

Consumers will save $1.7 trillion at the pump, $8K per vehicle by 2025

WASHINGTON, DC – President Obama today announced a historic agreement with thirteen major automakers to pursue the next phase in the Administration’s national vehicle program, increasing fuel economy to 54.5 miles per gallon for cars and light-duty trucks by Model Year 2025. The President was joined by Ford, GM, Chrysler, BMW, Honda, Hyundai, Jaguar/Land Rover, Kia, Mazda, Mitsubishi, Nissan, Toyota and Volvo – which together account for over 90% of all vehicles sold in the United States – as well as the United Auto Workers (UAW), and the State of California, who were integral to developing this agreement. “This agreement on fuel standards represents the single most important step we’ve ever taken as a nation to reduce our dependence on foreign oil,” said President Obama.
In achieving the level of standards described above for the 2017-2025 program, the agencies expect automakers’ use of advanced technologies to be an important element of transforming the vehicle fleet.  The agencies are considering a number of incentive programs to encourage early adoption and introduction into the marketplace of advanced technologies that represent “game changing” performance improvements, including:
  • Incentives for electric vehicles, plug-in hybrid electric vehicles, and fuel cells vehicles;
  • Incentives for advanced technology packages for large pickups, such as hybridization and other performance-based strategies;
  • Credits for technologies with potential to achieve real-world CO2 reductions and fuel economy improvements that are not captured by the standards test procedures.

    Full statement:  http://www.whitehouse.gov/the-press-office/2011/07/29/president-obama-announces-historic-545-mpg-fuel-efficiency-standard

    PS: May 2011 U.S. oil imports - released July 28, 2011

    The top five exporting countries accounted for 67 percent of United States crude oil imports in May while the top ten sources accounted for approximately 87 percent of all U.S. crude oil imports.
    The top five sources of US crude oil imports for May 2011 were: 
    1. Canada (2,006 thousand barrels per day)
    2. Saudi Arabia (1,197 thousand barrels per day)
    3. Mexico (1,154 thousand barrels per day)
    4. Venezuela (895 thousand barrels per day)
    5. Nigeria (808 thousand barrels per day)
    6. Colombia (414 thousand barrels per day)
    7. Iraq (407 thousand barrels per day)
    8. Angola (356 thousand barrels per day)
    9. Russia (339 thousand barrels per day)
    10. Algeria (263 thousand barrels per day)

    Total crude oil imports averaged 8,988 thousand barrels per day in May. In the same month domestic crude oil production accounted for 5612 barrels a day (highest ever was in October and November 1970: more than 10,000 barrels a day).

    Sources: ftp://ftp.eia.doe.gov/pub/oil_gas/petroleum/data_publications/company_level_imports/current/import.html
    Note: At least two-third of the countries mentioned are not exactly what you may call stable (democratically-ruled) countries. Also read: http://se-vehicle2.blogspot.com/p/is-america-trying-hard-enough.html

    PS: Dec. 27th 2011 CNN mentioned that according to the former president of Shell Oil, John Hofmeister, Americans could be paying $5 for a gallon of gasoline by 2012.

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