CBRE

Business News

Jun 27
Too Much Or Too Little? By Jodi LaMarco

The U.S. Senate has approved an amendment to the energy bill that would require vehicle fleets to achieve an average fuel efficiency standard of 35 miles per gallon by 2020.

If enacted into law, the new mandate will allow transportation regulators to decide what standards are possible under the Corporate Average Fuel Economy (CAFE) program, beginning with 2011 vehicles.

In addition to the controversial CAFE standards, the bill also calls for 36 billion gallons of alternative fuels to be available by 2022. Other defeated measures include new taxes for oil and gas companies that would have yielded $32 billion in subsidies for renewable energy, and a requirement forcing utilities to produce 15 percent of their electricity through renewable sources by 2020.

NYT

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