AGL 37.50 Decreased By ▼ -0.48 (-1.26%)
AIRLINK 223.69 Increased By ▲ 3.69 (1.68%)
BOP 10.98 Increased By ▲ 0.17 (1.57%)
CNERGY 7.64 Decreased By ▼ -0.21 (-2.68%)
DCL 9.56 Increased By ▲ 0.41 (4.48%)
DFML 41.74 Increased By ▲ 0.96 (2.35%)
DGKC 110.10 Increased By ▲ 5.18 (4.94%)
FCCL 37.80 Increased By ▲ 1.22 (3.34%)
FFL 18.20 Increased By ▲ 0.27 (1.51%)
HUBC 134.97 Increased By ▲ 4.08 (3.12%)
HUMNL 15.40 Increased By ▲ 0.73 (4.98%)
KEL 5.55 Decreased By ▼ -0.05 (-0.89%)
KOSM 7.45 Increased By ▲ 0.07 (0.95%)
MLCF 50.20 Increased By ▲ 4.26 (9.27%)
NBP 66.40 Decreased By ▼ -0.52 (-0.78%)
OGDC 228.40 Increased By ▲ 1.14 (0.5%)
PAEL 43.38 Decreased By ▼ -0.47 (-1.07%)
PIBTL 9.26 Decreased By ▼ -0.12 (-1.28%)
PPL 203.55 No Change ▼ 0.00 (0%)
PRL 42.85 Decreased By ▼ -1.47 (-3.32%)
PTC 27.40 Increased By ▲ 0.13 (0.48%)
SEARL 107.00 Increased By ▲ 2.54 (2.43%)
TELE 9.76 Increased By ▲ 0.06 (0.62%)
TOMCL 36.79 Increased By ▲ 1.10 (3.08%)
TPLP 15.30 Decreased By ▼ -0.34 (-2.17%)
TREET 26.57 Decreased By ▼ -1.52 (-5.41%)
TRG 70.00 Decreased By ▼ -0.67 (-0.95%)
UNITY 34.30 Decreased By ▼ -0.24 (-0.69%)
WTL 1.77 Decreased By ▼ -0.01 (-0.56%)
BR100 12,429 Increased By 41.4 (0.33%)
BR30 37,678 Decreased By -1027.5 (-2.65%)
KSE100 117,008 Increased By 1881.2 (1.63%)
KSE30 36,865 Increased By 682.4 (1.89%)

WASHINGTON: The United States announced Monday it will increase standards for emissions from cars and trucks, implementing the new rules over three years from 2023, in President Joe Biden’s latest bid to fight climate change.

“We followed the science, we listened to stakeholders and we are setting robust and rigorous standards that will aggressively reduce the pollution that is harming people and our planet — and save families money at the same time,” Environmental Protection Agency (EPA) Administrator Michael Regan said when announcing the standards.

The new regulations approved by the Biden administration reverse previous, less stringent rules his predecessor Donald Trump had backed, and show how Biden’s White House is using regulatory power to curb emissions.

Their announcement comes as Biden’s massive Build Back Better social spending plan may have been dealt a mortal blow after a crucial Democratic senator said he would not support the $1.75 trillion proposal, which would have paid for new initiatives to fight climate change.

Under the new EPA rules, the average fleetwide fuel consumption standards would rise to 55 miles per gallon by 2026, up from 43 miles per gallon under Trump.

The EPA estimates the new standards will save Americans between $210 and $420 billion on fuel costs by 2050, while removing more than three billion tons of greenhouse gas emissions over the same period.

US automakers have already announced major investments in electric vehicles and more fuel-efficient cars, but industry group the Alliance for Automotive Innovation warned the new standards will be hard to meet without help from the government.

The “EPA’s final rule for greenhouse gas emissions is even more aggressive than originally proposed, requiring a substantial increase in electric vehicle sales, well above the four percent of all light-duty sales today,” its president John Bozzella said.

“Achieving the goals of this final rule will undoubtedly require enactment of supportive governmental policies — including consumer incentives, substantial infrastructure growth, fleet requirements and support for US manufacturing and supply chain development.”

The EPA predicted that compared to cost increases to meet the standard, consumers will save about $1,000 through lower fuel prices over the lifetime of the average 2026 model year vehicle.

Comments

Comments are closed.