The EPA and the Obama administration set lofty goals for lowering vehicle greenhouse gas emissions back in 2012. Under those terms, US automakers would have until 2025 to double fuel efficiency to 54.5 MPG which would lead to well over $1 trillion is fuel savings over the life of new cars. Of course, the plan would cost manufacturers $200 billion to meet that goal before the end of the 13-year term.
Today, the EPA proposed leaving those rules in place without any updates, citing technical analysis that shows automakers will be able to meet the deadline. In fact, the agency says those companies will be able to comply with the guidelines for the same cost — that $200 billion figure — or less than was expected in 2012. While the review found cause to raise the efficiency numbers even further, EPA Administrator Gina McCarthy said leaving the standards as is to help the auto industry plan for the years ahead.
The EPA further explained that if the new standards are fully implemented, 2012-2025 model year vehicles would keep 6 billion metric tons of greenhouse gases out of the environment over the life of those cars. A Bloomberg study earlier this year determined that EVs will cost the same as their gas-powered counterparts by 2025 which will certainly help cut down on emissions.