New Study Shows Strong Vehicle Standards Boost Economy
Vehicle efficiency and emissions strong vehicle standards are a remarkably successful policy. It’s delivering cleaner cars every year. Therefore, saving drivers money at the pump. It also reduces the pollution that causes climate change. A new study has found another important benefit of the standards. Best one ever! So EVs create jobs and economic growth.
Strong Vehicle Standards
The new analysis, conducted by Synapse Energy Economics, Inc., finds that clean-car standards spur investments in automotive technology, creating new jobs in the auto sector. In addition, the big savings the standards offer to drivers at every fill-up get re-invested into the economy. The standards, which put into place in 2012, will create more than 100,000 U.S. jobs in 2025 and more than 250,000 U.S. jobs in 2035, according to the study. These jobs would be in the auto technology and manufacturing sectors, as well as in other sectors, such as retail, due to the more consumer spending allowed by fuel savings. The U.S. gross domestic product would see a boost of more than $13 billion in 2025 and $16 billion in 2035.
The Synapse study looked at a number of factors—including the cost of deploying new clean vehicle technologies and the fuel savings that would result—and found that the current standards deliver positive economic growth both in the near term and years to come.
“It’s clear that the clean vehicle standards we have in place today are working well,” said Dave Cooke, senior vehicles analyst at the Union of Concerned Scientists. “They’re doing exactly what they designed to do—and this study is just more evidence that we need to keep moving forward.”
Fuel Analysis
The analysis rebut findings from a study sponsored by the Alliance of Automobile Manufacturers released last year that automakers have used to argue for weaker standards.
Cleaner car standards cut pollution. It’s totally benefiting the U.S. economy, and creating jobs. This rollback will harm standards and American auto workers.
Fuel Efficiency
In an increasingly global and carbon-conscious marketplace, automakers need to consistently improve efficiency. I mean with Tesla stepping up. They must be so competitive. History shows, however, that we need strong rules to spur the innovation required. As well, to develop cleaner cars with strong vehicle standards helps. It does for manufacturers, since they have suffered when falling behind.
This analysis shows padding. Padding by automakers not ready for EV. So putting the brakes on fuel economy standards in the name of auto industry relief is their move. Fuel-efficient vehicles don’t just put money in consumers’ pockets. They promote economic growth. Why you ask?? So, they create jobs plus increase investment in that auto industry.
Wrapping Up
In conclusion, the Trump administration is expecting to announce rollbacks. Firstly, expect in the coming days it will reconsider the strong vehicle standards. Finally, it’s likely with intending weakening them. Therefore, likely consumers and the broader economy would lose if they do.
Source: The Union of Concerned Scientists www.ucsusa.org, The Natural Resources Defense Council (NRDC), www.nrdc.org, The American Council for an Energy-Efficient Economy, aceee.org., WASHINGTON (March 28, 2018)
