Given the massive public outcry over gas prices, the public will no doubt be furious to find out that a plan to save energy and money has been kept under wraps by their own government.
The White House has been sitting on a document for more than 6 months now that estimates a long term savings in excess of $2 trillion through 2040 if the federal government was to enact tougher greenhouse gas regulations for new automobiles.
In the report (you can download Part 1 here and Part 2 here) the Environmental Protection Agency found that:
– technology is readily available to achieve significant reductions in light-duty vehicle GHG [greenhouse gas] emissions between now and 2020 (and beyond);
– the benefits of these new standards far outweigh their costs;
– owners of vehicles complying with the new standard will recoup their increased vehicle sosts within 3-7 years, and;
– new standards would result in substantial reductions in GHGs.
The Wonk Room at Center for American Progress has more.
