With the announcement of final rules for corporate average fuel efficiency of 54.5 mpg by 2025, the NHTSA and EPA have done two things.
The agencies have given carmakers both a major technological challenge--double the effective gas mileage of your vehicles in 12 years--and something they have long wanted: regulatory certainty.
If the definition of a good compromise is that no one is entirely happy with it, then perhaps the new, stiffer CAFE requirements are good indeed.
But many economists, industry executives, and policy wonks feel that stiffer gas-mileage rules are not the best way to reduce gasoline consumption.
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