[Image](
EMAIL}/redirect
(Advertisement)
Posted on Thursday, January 23rd, 2020 By Tom Krisher And Ellen Knickmeyer, Associated Press
WASHINGTON (AP) â The Trump administration is making a concession on its proposed minimum fuel economy requirement for new vehicles, but environmental groups and a key Democratic senator complain it does not go far enough, and still falls well below the requirements set under the Obama administration.
Fuel economy standards would increase 1.5% per year from 2021 through 2026 under the new proposal. That's a reversal from the Trump administration's proposal in 2018, which sought to freeze the standards at 2020 levels.
Environmentalists and Delaware Sen. Tom Carper hardly cheered the move, which doesn't come close to the 5% annual increase that the Obama administration had mandated.
Carper, senior Democrat on the Environment and Public Works Committee, released some details of the latest fuel-standards proposal in a letter Wednesday urging the administration to scrap its new mileage proposal as ineffective and costly.
âMy officeâs review of the draft final rule indicates that it utterly fails to provide any demonstrable safety, environmental or economic benefit to consumers or the country,â Carper wrote in a letter to the Office of Management and Budget.
EMAIL}/redirect
(Advertisement)
The office reviews proposed regulations before they are finalized and printed in the Federal Register. The administration hasnât released the numbers, but they are detailed in Carperâs letter to Paul Ray, a management and budget administrator.
The Trump administration has billed its mileage standards as safer and less costly to motorists, but thereâs a growing chorus of critics disputing that, including the Trump EPAâs own scientific advisory board. The mileage rollback has become one of the most fiercely contested rollback efforts by the administration, prompting legal battles with California and other states and splitting loyalties of top automakers.
The National Highway Traffic Safety Administration, which develops fuel economy rules, wouldnât comment Thursday. It reissued a statement saying the rule will improve fuel economy, cut pollution and make vehicles more affordable.
When the Trump administration released its proposed âSafer Affordable Fuel-Efficient Vehicles Rule" in 2018, it calculated that the rule would save 12,700 lives in car crashes through model year 2029. The logic was that relaxed fuel mileage standards would cut the cost of vehicles, making them more affordable and increasing sales. Since new vehicles are safer, lives would be saved.
EMAIL}/redirect
(Advertisement)
The proposal pegged the cost of meeting Obama-era requirements at $2,700 per vehicle and said buyers would save that much per car by 2025.
But Carper wrote that the administrationâs final proposal claims total savings of 474 lives through 2029. That number doesnât include deaths associated with increased air pollution from less-efficient vehicles, Carper wrote.
âThose 470 prevented traffic fatalities are nowhere near enough to offset the premature deaths related to the 80 billion gallons of additional gasoline consumption in the administrationâs proposal,â Dave Cooke, senior vehicles analyst for the Union of Concerned Scientists, said in a separate statement.
Under calculations in the proposal, the purchase price would drop by $1,083 per vehicle under the revised standards, Carper wrote. But that would be erased by the cost of operating vehicles with lower fuel economy, which adds $1,423 to the cost, Carper wrote.
âAdding hundreds of dollars to the cost of each vehicle would seem to be the opposite of the more âaffordableâ vehicles the SAFE rule promised,â his letter said.
Last year, the administrationâs proposed fuel economy freeze touched off a huge legal fight with California, which has authority under the Clean Air Act to set its own greenhouse gas emissions, and by extension, gas mileage standards. Trump revoked Californiaâs authority, and the state challenged the decision in court.
Later, the auto industry split on the matter with four companies, Ford, BMW, Volkswagen and Honda, siding with California. Most other automakers went with Trump.
Many automakers have been lobbying for a rollback from the Obama standards, but say they're willing to support a smaller increase. They contend that buyers have shifted so quickly to trucks and SUVs that they are having trouble meeting the current standards.
____
Krisher reported from Detroit.
EMAIL}/redirect
(Advertisement)
To get Exclusive Offers make sure you grab your cellphone (which you are probably doing right now) and join our VIP text messaging list (standard text and messaging rates may apply)to make it even easier, if you are on your cell phone now click this Button Below:
[SIGN ME UP NOW](
© 2019 PTE.la PTE, LLC (publisher of PTE.la) is NOT registered as an investment adviser nor a broker/dealer with either the U. S. Securities & Exchange Commission or any state securities regulatory authority. Users of this website are advised that all information presented on this website is solely for informational purposes, is not intended to be used as a personalized investment recommendation, and is not attuned to any specific portfolio or to any user's particular investment needs or objectives. Past performance is NOT indicative of future results. Furthermore, such information is not to be construed as an offer to sell or the solicitation of an offer to buy, nor is it to be construed as a recommendation to buy, hold or sell (short or otherwise) any security. All users of this website must determine for themselves what specific investments to make or not make and are urged to consult with their own independent financial advisors with respect to any investment decision. The reader bears responsibility for his/her own investment research and decisions, should seek the advice of a qualified securities professional before making any investment, and investigate and fully understand any and all risks before investing. All opinions, analyses and information included on this website are based on sources believed to be reliable and written in good faith, but should be independently verified, and no representation or warranty of any kind, express or implied, is made, including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. In addition, we undertake no responsibility to notify such opinions, analyses or information or to keep such opinions, analyses or information current. Also be aware that owners, employees and writers of and for PTE, LLC may have long or short positions in securities that may be discussed on this website or newsletter. Past results are not indicative of future profits. This table is accurate, though not every trade is represented. Profits and losses reported are simulated figures from virtual simulated portfolios. We are engaged in the business of advertising and promoting companies for monetary compensation. All content in our releases is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. Neither the information presented nor any statement or expression of opinion, or any other matter herein, directly or indirectly constitutes a solicitation of the purchase or sale of any securities. PTE.laâs sponsored advertisements do not purport to provide an analysis of any companyâs financial position, operations or prospects and this is not to be construed as are commendation by PTE.la or an offer or solicitation to buy or sell any security. Neither the owner of PTE.la nor any of its members, officers, directors, contractors or employees is licensed broker-dealers, account representatives, market makers, investment bankers, investment advisors, analyst or underwriters. Investing in securities, including the securities of those companies profiled or discussed on this website is for individuals tolerant of high risks. Viewers should always consult with alicensed securities professional before purchasing or selling any securities of companies profiled or discussed in our releases. It is possible that a viewerâs entire investment may be lost or impaired due to the speculative nature of the companies profiled. Remember, never invest in any security of a company profiled or discussed in a release or on our website unless you can afford to lose your entire investment. Also, investing in micro-cap securities is highly speculative and carries an extremely high degree of risk. To review our complete disclaimer and additional information, please visit . PTE.la makes no recommendation that the securities of the companies profiled or discussed in our releases or on our website should be purchased, sold or held by investors. PTE.la is owned and operated by PTE LLC. PTE LLC has not been compensated for this specific email, we do have advertisements in this email that we get paid if you click one of the ads (we have not investigated any of the advertisements). Any compensation received by PTE LLC constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. A third party of PTE LLC may have shares and may liquidate, which may negatively affect the stock price. PTE LLC affiliates may at any time have a position in the securities mentioned herein and may increase or decrease such positions without notice which will negatively affect the market. Some of the content in this release contains forward - looking information within the meaning of Section 27 A of the Securities Act of 1 9 9 3 and Section 21 E of the Securities Exchange Act of 1 9 3 4 including statements regarding expected continual growth of the profiled company and the value of its securities. In accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 it is hereby noted that statements contained herein that look forward in time which include everything other than historical information, involve risk and uncertainties that may affect a company's actual results of operation. A company's actual performance could greatly differ from those described in any forward - looking statements or announcements mentioned in this release. Factors that should be considered that could cause actual results to differ include: the size and growth of the market for the company's products; the company's ability to fund its capital requirements in the near term and in the long term; pricing pressures; unforeseen and/or unexpected circumstances in happenings; etc. and the risk factors and other factors set forth in the companyâs filings with the Securities and Exchange Commission. However, acompanyâs past performance does not guarantee future results. Generally, the information regarding a company profiled is provided from public sources which we believe to be reliable but is not guaranteed by us as being accurate. Further specific financial information, filings and disclosures as well as general investor information about the profiled company, advice to investors and other investor resources are available at the Securities and Exchange Commission (âSECâ) website www.sec.gov and the Financial Industry Regulatory Authority (âFINRAâ) website at www.finra.org. Any investment should be made only after consulting with a qualified investment advisor and reviewing the publicly available financial statement and other information about the company profiled and verifying that the investment is appropriate and suitable. PTE.la makes no representations, warranties or guarantees as to the accuracy or completeness of the information provided or discussed. Viewers should not rely solely on the information obtained in this release or on our website.
PTE Team
9 Downing street
Newark NJ 07105
USA
[Unsubscribe]( | [Change Subscriber Options](