Oil & Petroleum Fuels
In his State of the Union address, President Obama rightly pointed to a thriving domestic auto industry as a bright spot in the U.S. economy. It’s a good time to recall that the government’s 2008-2009 intervention on behalf of GM and Chrysler played a big role in that outcome, as did energy efficiency.
In 2011, the EPA and NHTSA adopted the first-ever fuel efficiency and greenhouse gas emissions standards for medium- and heavy-duty vehicles and engines built for the 2014 to 2018 model years. Those standards, although not demanding enough to promote adoption of all available efficiency technologies, will benefit truckers and consumers and save over a half-million barrels of oil per day by 2030.
Today Is the 40th Anniversary of the 1973 Oil Crisis and the Midpoint on the Path to a Truly Energy-Efficient Economy
Today marks the 40th anniversary of the 1973 Middle East Oil Embargo. On this day 40 years ago, Middle East oil ministers recommended an embargo against nations supporting Israel in the Yom Kippur war and mandated a cut in oil exports.
[no-glossary]Heavy-duty vehicles consume 2.9 million barrels per day of petroleum fuels in the United States today. In 2011, the National Highway Traffic Safety Administration and the Environmental Protection Agency adopted standards to reduce the fuel consumption and greenhouse gas emissions of heavy-duty vehicles in model years 2014–2018.
Growing uneasiness about U.S. oil dependence means interest is high once again in energy legislation and petroleum legislation in particular. Upward fuel price trends of recent months, reflecting both turmoil in the Middle East and North Africa, plus the gradual recovery of the global economy, have prompted calls for decisive action by policymakers. At such a time, it is important to be clear on the range of policy options available to address the problem and how effective these policies might be.