The US Transportation Department is finalizing fuel economy standards that significantly reduce the required efficiency for cars and trucks through 2031, reversing the previous administration's push for more electric vehicles. The new rules set a fleetwide average of 34.5 mpg by 2031, down from 50.4 mpg under the prior plan, and are estimated to cut new vehicle costs by $930 per vehicle. However, the department's own analysis projects an increase of about 100 billion gallons in fuel consumption through 2050, $185 billion in additional fuel spending, and a roughly 5% rise in carbon dioxide emissions. Supporters argue the move lowers vehicle prices, while critics say it cedes clean technology leadership to China and increases consumer fuel costs.
