It is no secret that the EPA was hell bent on eliminating GASOLINE and DIESEL driven vehicles.
It now appears that the new administration is going to roll back the EPA mandates to prevent them from wiping out the oil industry and, for all practical purposes, making all new cars Electric Vehicles. Despite a lot of good stuff about EVs, the reality is the utility industry is well behind the demand curve for generating electricity, so pushing all vehicles to EVs, combined with data center and other increased electrical demand, would simply cause energy prices to become unaffordable to many Americans.
It now appears that the new administration is going to roll back the EPA mandates to prevent them from wiping out the oil industry and, for all practical purposes, making all new cars Electric Vehicles. Despite a lot of good stuff about EVs, the reality is the utility industry is well behind the demand curve for generating electricity, so pushing all vehicles to EVs, combined with data center and other increased electrical demand, would simply cause energy prices to become unaffordable to many Americans.
Trump administration to announce new fuel economy standards Wednesday
The White House will announce new fuel economy standards on Wednesday, according to administration sources.
The Trump administration will propose rolling back the standards implemented by former President Joe Biden last year, sources told Reuters. Biden required passenger cars and light trucks to have a fuel efficiency of about 50 mpg by 2031.
President Donald Trump is scheduled to make an announcement at 2:30 p.m. ET from the Oval Office. Executives from Ford, General Motors and Stellantis are expected to attend the announcement.
The Biden fuel efficiency standards were expected to stimulate the sale of electric vehicles in the U.S. Trump has sought to roll back all federal support for EVs since taking office.
The oil industry group the American Petroleum Institute has lobbied the Trump administration to repeal the Biden fuel economy standards, contending that they aim to phase out liquid fuel vehicles.
The Corporate Average Fuel Economy, or CAFE, standards date back to 1975 and have been tightened over the years to make vehicles more efficient.
Stellantis CEO Antonio Filosa, who is expected to be in attendance at the White House, said in a statement that the automaker “appreciates the Trump Administration’s actions to re-align the Corporate Average Fuel Economy (CAFE) standards with real world market conditions as part of its wider vision for a growing U.S. automotive industry.”
— CNBC’s Michael Wayland contributed to this report.