Obama Responds to Romney's CAFE Criticism
August 30, 2012 5:30 PM
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Romney says the new standards are "extreme," but Obama disagrees
This week was particularly monumental for the auto industry as the Obama administration
finalized the new Corporate Average Fuel Economy (CAFE) standards
. The new rules have faced some criticism, but President Barack Obama isn’t backing down.
criticism comes from Obama’s presidential election opponent Mitt Romney
, who believes there is a better method of increasing fuel economy than changing CAFE standards.
"Just yesterday, my opponent called my position on fuel efficiency standards extreme," said Obama. "It doesn't seem extreme to me to want to build more fuel efficient cars. Maybe the steam engine is more his speed."
Obama further added that the new CAFE standards will allow U.S. drivers to fill up their gas tanks "half as often." But when the new rules were finalized Tuesday, Romney
failed to see the benefit
to driving citizens.
"Governor Romney opposes the extreme standards that President Obama has imposed, which will limit the choices available to American families," said Andrea Saul, Romney spokeswoman. "The president tells voters that his regulations will save them thousands of dollars at the pump, but always forgets to mention that the savings will be wiped out by having to pay thousands of dollars more upfront for unproven technology that they may not even want."
The new fuel efficiency standards for 2017-2025 will cost the auto industry $157.3 billion and add an average of
$2,000 extra to the sticker price of new autos
While some are clearly unhappy with the new standards,
others are seeing added benefits
. Honda, for example, was delighted to see that the standards provided extra credits for those selling natural gas-powered vehicles. Tesla also jumped on the CAFE bandwagon when it learned that it could sell any credits for surpassing the standards to companies that haven't.
will raise the average fuel efficiency of cars and light trucks to 54.5 mpg by model year 2025. These new standards, which were created by the U.S. Environmental Protection Agency (EPA) and the U.S. Department of Transportation’s (DOTs) National Highway Traffic Safety Administration (NHTSA), were based off of the Obama Administration's first standards raised average fuel efficiency to 35.5 mpg by 2016. It was intended for cars and light trucks during model years 2011-2016.
The 54.5 mpg CAFE standard aims to save consumers more than $1.7 trillion at the gas pump, cut U.S. oil consumption by 12 billion barrels, reduce greenhouse gas emissions by 6 billion metric tons over the course of the program, and encourage the adoption of autos like electric vehicles (EVs) and plug-in hybrids.
The Detroit News
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Free market fantasies
8/30/2012 9:57:14 PM
In this thread, more mindless adoration of the free market.
Your head is quite firmly up your ass if you believe that unregulated free markets produce the best results for society.
The free market is basically worshiped as a deity in this country. It's humorous because all the worshipers have never actually SEEN a truly free market. That's because they self destruct, and no "free market" has ever existed for any significant period of time. There is ALWAYS (in first world countries) State intervention that either allows the market to exist or keeps it from destroying itself.
RE: Free market fantasies
8/30/2012 10:15:56 PM
Also"The 54.5 mpg CAFE standard aims to save consumers more than $1.7 trillion at the gas pump," That number is based on today's prices, which is a crock an illusion. Capitalism doesn't work to the benefit of the people anymore because more and more products are being carved out by fewer and fewer corporations meaning less competition. Capitalism dictates as it is now that companies have to make more profit each quarter to satisfy the shareholders. If by some miracle everyone was to get a vehicle overnight, that got 54.5mpg at today's prices, oil companies would cut 12 billion barrels but would have to jack up their prices to continue to gouge the consumers to satisfy the shareholders. This is one big lie. Capitalism dictates profit every quarter and as it is now that profit comes from you and me. Its similar to Utility companies saying if you cut back on your power usage,you will save money,again another lie. When enough people use less power the price goes up to make up for the loss in revenue. Its a capitalist lie. Ever see any of your utility bills go down. People have moved to smaller cars see gas prices go down. You can brown your lawn in the summer and your bills still go up,because your city or town has budgeted for last years water revenue receipts. I remember years ago when San Fransisco had a water shortage and jokingly asked people to share the shower, which the people did, next year San Fransisco raised the water rates to make up for loss of revenue. My 2 cents.
RE: Free market fantasies
8/31/2012 2:05:52 AM
Yep. Singapore man, flying apart at the seems. Chaos, women throwing their babies off the tops of skyscrapers, insanity. I just saw a woman utter "If only I had the same rights as the average Cuban!" before leaping to her own death.
Greece though! And Italy, Spain! Now there are some beacons of success in the world! Look at all those civilized indignatos, these are such prosperous, successful nations that their young college graduates apparently need not even work any more! Compare that to the wretched United States, which didn't even begin to leave the swamps of the Eastern seaboard until the New Deal.
RE: Free market fantasies
8/31/2012 8:56:47 AM
If you think Singapore is unregulated you're a fool (they just don't tax very much). They are fools as well, since they've stored the majority of their wealth in europian banks.
Anyways, there already exist a completly free and unregulated market. the $740 trillion derivatives market. And we all know how that turned out (just a recap so far: the US morgage crisis, financial crisis, europian sovereign crisis, housing bubbles across the world, can all be traced back to derivates).
What we need is a Competent government establishing a Competent framework for Competent traders to trade within. Then it needs to be monitored by Competent overseers paid for by the that government, with the authority to intervene when a trader crosses outside of the framework set in place. Right now none of our nations have any of those things.
“Then they pop up and say ‘Hello, surprise! Give us your money or we will shut you down!' Screw them. Seriously, screw them. You can quote me on that.” -- Newegg Chief Legal Officer Lee Cheng referencing patent trolls
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