President Obama saves car owners $8,000 each on gas money while combatting global warming

[Roma_Victrix]

Obama has achieved this and that in his time as president, including the passing of Obamacare, the historic thawing of relations with Cuba, and presently the Iranian nuclear deal. However this story seems rather important for the everyday consumer, something that the mainstream media isn't focusing on too much in light of other news like the growing job numbers in the US. Apparently we're getting more gas for our dollar because of the new EPA fuel standards.

Source

Automakers appears to be on track to meet ever-toughening fuel economy standards, the Environmental Protection Agency said Thursday.

Overall, the auto industry stayed ahead of the national greenhouse gas emissions standard by 12 grams a mile, which equates to 1.4 miles a gallon, in the 2013 model year, says the EPA. It was the second consecutive year of improvement.

That year, cars achieved a record average of 24.1 miles per gallon – a 0.5 mpg increase over the previous year. Gas mileage has increased nearly five miles per gallon since 2004, according to the EPA.

Automakers are required to meet stricter standards through 2025. The tougher standards have been touted by the Obama administration as one of its key successes.

While tougher standards are aimed at engine emissions that cause greenhouse gases, it just happens that they are directly tied to how much fuel a car burns. So really, it's about gas mileage.

"Automakers are racing to meet our goals. The American auto industry has never been stronger, we're creating jobs here in the U.S., selling cleaner cars here and overseas, and consumers are really benefiting from the innovations spurred by these standards," said EPA Administrator Gina McCarthy in a statement.

EPA says:

•Fuel economy has increased in eight of the last nine years.

•Average carbon dioxide emissions from cars and light trucks is at a record low.

•There are more than three times as many 30 mpg vehicles than just five years ago.

•Fuel economy for SUVs has been increasing faster than for any other vehicle type.

The standards through 2025 are aimed at saving 12 billion barrels of oil, reducing motorists' costs by an average $8,000 per vehicle over its lifetime. Greenhouse gases are expected to be reduced by 6 billion metric tons over the lifetimes of vehicles sold in these years.

So what do you guys think? Isn't this a win-win by saving consumers money at the pump while also reducing greenhouse gases? I can't wait to hear from the detractors on this one. Even if you've been ignoring the rapid melting of polar ice and refuse to believe more than 90% of the world's scientists about climate change, surely you don't have any complaints about saving more money. Think of it as a tax rebate. The only entity that should be concerned about this is the oil industry, which will continue to be fat and happy with profits regardless of these standards, even with the loss of 12 billion barrels of oil for sale over time.

[hellheaven1987]

Then China would fill up all the green gas US does not emit, result polar ice still melts down, sea level rise up and Virginia sinks into sea bottom.

Good thing I live in Midwest now.

[Admiral Piett]

Yet, the cost of many these automobiles with amazing gas mileage still is not realistically affordable to the average middle-class person. So no, this is not a real world achievement to brag about yet. At the same time, you have the Republicans to thank for not having the long desired tax increase on fuel. You can also thank Putin for the sudden drop in gas prices. Before that, the President's environmental polices yielded little relief to people at the pump. A similar MPG increase occurred in the early 70s when the muscle cars were replaced by sports cars that could reach 33mpg. It's funny that Obama would want to brag about something as small as toughening EPA standards when Bush actively subsidized alternative fuel research and development in 2006. Can't really jump on the bandwagon on this one.

[Dr Zoidberg]

Yet, the cost of many these automobiles with amazing gas mileage still is not realistically affordable to the average middle-class person.

What do they cost?

[Admiral Piett]

What do they cost?

Just as a random example, 2015 Toyota Camry base costs $23,000.

[snuggans]

It's funny that Obama would want to brag about something as small as toughening EPA standards

he should certainly brag about it and i would recommend he brags about it louder, considering republicans have already stated they plan on undoing them, in order to sate the Kochmonster's hunger

[Admiral Piett]

he should certainly brag about it and i would recommend he brags about it louder, considering republicans have already stated they plan on undoing them, in order to sate the Kochmonster's hunger

Read my post. Bush and Carter did more than Obama on this issue.

Umm actually $23,000 is not that bad since auto loans unlike house loans have come back with a vengeance. I got my Ford C-MAX for ~20,000. Not bad the only scary thing is has so much techno stuff tacked onto it is like always driving distracted. Anyways add in the length of all the base warranties and its a rather good deal its got a ton of air bags, rear camera, etc. Plus I get a huge Tax Credit. I not seeing the issue. I live out west in the US so no salt rot and decent roads it will likely be the beater by youngest daughter takes to college in 15 years.

Nothing is stopping a middle class (or poor) family from buying a used car except maybe pride... The standards apply to only new production.

Yeah, your situation does not apply to everyone mate, especially not in the lower to the middle-middle class. Not everyone has that terrain, road conditions, or purchasing power. My father would never be able to afford any vehicle newer than a 2009 and he makes around $60,000.

[Symphony]

As a middle-class, 2 working parent household in professional-level, decently-paying jobs, I own two cars, model year 2011 and 2008 (still making payments on both). I consider the fact that I manage to own and maintain two cars less than 10 years old to be a sign of my family's recent success; we spent a LOT of years sharing a 12-year-old minivan across two jobs.

Fuel cost savings on 2013 model-year cars would not resonate with me, or the majority of my peers.

[Sphere]

As a gear head, if there is more than 20 mpg under my right foot, my soul is sad.

For therapy, here is Jay Leno driving the new 707hp Charger Hellcat. It's super-charger requires more horsepower to run than the original Prius engine produces in total. Dealer prices are around $73k.

[conon394]

Yet, the cost of many these automobiles with amazing gas mileage still is not realistically affordable to the average middle-class person. So no, this is not a real world achievement to brag about yet.

Umm actually $23,000 is not that bad since auto loans unlike house loans have come back with a vengeance. I got my Ford C-MAX for ~20,000. Not bad the only scary thing is has so much techno stuff tacked onto it is like always driving distracted. Anyways add in the length of all the base warranties and its a rather good deal its got a ton of air bags, rear camera, etc. Plus I get a huge Tax Credit. I not seeing the issue. I live out west in the US so no salt rot and decent roads it will likely be the beater by youngest daughter takes to college in 15 years.

Nothing is stopping a middle class (or poor) family from buying a used car except maybe pride... The standards apply to only new production.

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@Symphony

Depends I think.

My wife has about a 60 mile 2 way commute the C-Max has made a very noticeable difference in how much she has to spend in gas, better yet on road trip to LA she was stuck in gridlock like the kind we us to have all the time in Houston - when you never beat 30 MPH and have to break all the time almost no gas cost...

[Symphony]

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@Symphony

Depends I think.

My wife has about 60 mile 2 way commute the C-Max has made a very noticable diffrence in how much she has to spend in gas, better yet on road trip to LA she was stuck in gridlock like the kind we us to have all the time in Houston - when you never beat 30 MPH and have to break all the time almost no gas cost...

That's my point.

I'm not saying the savings aren't relevant...they totally are, if you have a 2013 or newer car. I'm saying that a large number of middle-class families aren't seeing those savings yet.

I bought the 2008 (Chevy HHR, retailed new in the $20-25k range) back in 2012 for about $11,000. I bought the 2011 (Hyundai Elantra, also in the 20-25k range new) in 2014 for approximately the same price. That's about what a middle class family with kids and a mortgage/house rental can responsibly afford....a 3-4 year old, middle-mileage car, especially if there's a need to have both parents working different schedules in different parts of town. I feel somewhat privileged to have those two vehicles, in good shape, with less than 70k miles on either (both were under 40k when we bought them)....6 years ago, it felt like an impossible luxury (at a time when we earned ~$60k a year total household gross, and were sharing a 12-year-old van with 120k miles that threw the drive belt every few days...those were good times).

In a couple of years, I'll have the 2008 paid off, and I'll likely be looking to buy another 3-4 year old used car. At that point, I'll be in the 2013 model year range, and I'll see the fruits of the President's labor. Right now, it's not a meaningful statement to me.

If you're younger and single...maybe a late 20s college graduate bachelor like one of my employees, just getting into a decent-paying job but without family obligations and a much cheaper mortgage or rent, it's a lot more achievable...he drives a very nice 2014 Kia. That stretches my definition of "middle-class", though

[Caelifer_1991]

I never saw the reason for people's apparent need to buy brand new cars, and to actually take out a loan for one?! I was amazed when I heard that people actually do that. To take out a loan on an "asset" that, if new, depreciates at something like 10-15% per year for the first 5 years is (long term) financial suicide in a microcosm. I don't even own a car (though granted I live in the UK with public transport that actually works unlike America... no malice intended, just experience), and when I do buy one (probably in 8 months, if it turns out I actually need one that is) I imagine it'll be a 2008 Audi A3: comfortable, efficient, 41.5 mpg, low tax, low value depreciation, looks good, and for £3950, what more does anyone want, really?

[conon394]

Read my post. Bush and Carter did more than Obama on this issue.

Of course so has Obama and everytime there is a hint of problem the Congress has a hissy fit.

Yeah, your situation does not apply to everyone mate, especially not in the lower to the middle-middle class. Not everyone has that terrain, road conditions, or purchasing power. My father would never be able to afford any vehicle newer than a 2009 and he makes around $60,000.

I can't know his situation or credit rating but I not sure I buy the argument. At $60,000 with decent credit you can get a loan, a lease or buy used out where I am but the prices in LA or such might be different. There are still rather hefty tax credits as well. In any case the simple fact the overall lot cars changing means sure Hybred new but there will be more used ones around and in a places (like the west - where they are light on salt use) in good shape.