Posted by | October 28, 2010 12:27 | Filed under: Top Stories

by Stuart Shapiro

Earlier this week EPA and DOT issued proposed rules that would, for the first time, establish fuel efficiency standards for large trucks and buses.

This comprehensive national program is projected to reduce GHG emissions by about 250 million metric tons and save 500 million barrels of oil over the lives of the vehicles produced within the program’s first five years.

This action is important for two reasons.  First, projected net benefits to the economy range from $3-9 billion per year.  Second, it is a preview of policymaking over the next two years.  If Republicans make enough gains to paralyze Congress, that does not mean that progressive policymaking will stop.  It means that the Obama administration will turn to actions like this that can be done through the regulatory process to advance its agenda.  All presidents do it when confronted by a hostile Congress.

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Copyright 2010 Liberaland
By: Stuart Shapiro

Stuart is a professor and the Director of the Public Policy
program at the Bloustein School of Planning and Public Policy at Rutgers
University. He teaches economics and cost-benefit analysis and studies
regulation in the United States at both the federal and state levels.
Prior to coming to Rutgers, Stuart worked for five years at the Office
of Management and Budget in Washington under Presidents Clinton and
George W. Bush.