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Article: Do consumers value fuel economy?(briefly noted)
- Article from:
- Regulation
- Article date:
- December 22, 2005
- Author:
CopyrightCOPYRIGHT 2005 Cato Institute. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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EVEN BEFORE THE 2005 HURRICANE season sent gasoline prices to historical highs, rising fuel prices were leading to calls for a political response for relief. Some focused on augmenting supply, renewing the push to open the Arctic National Wildlife Refuge to drilling and to increase offshore drilling. Others focused on decreasing demand by raising fuel economy requirements and encouraging conservation.
Enacted in 1975, the "Energy Policy Conservation Act" established Corporate Average Fuel Economy (CAFE) standards for passenger cars and light trucks, with a stated objective of doubling new car fuel economy by 1985. In 1986-87, average fleet fuel economy reached ...