There's a lot of good news in the late-August announcement of new federal fuel economy standards, including what they'll do for the electric vehicle industry and the jobs it will bring to Michigan.
The standards "are an important step on America's path to a lower-carbon and more-secure energy future," according to an editorial in the New York Times. They are expected to yield multiple benefits: reduced dependence on foreign oil, fewer greenhouse gas emissions, consumer savings at the pump and a more competitive auto industry."
"Today is a monumental day for the American people, the U.S. auto industry and this administration's efforts to make our cars more efficient – helping families save more at the pump while still preserving consumer choice," U.S. Secretary of Transportation Ray LaHood said in the announcement.
The new standards are expected to save consumers $8,000 over the life of their vehicles, and reduce U.S. oil consumption by 12 billion barrels.
And they will encourage manufacturers to continue development of electric vehicles since the rules includes additional credit for the use of EV and other advanced technologies in achieving the standards.