- Clint Eastwood ‘Surprised’ by Reaction to Chrysler's ‘Halftime in America’ Ad
- Tesla Unveils First SUV: Model X
- Can Ford Make a Smooth Transition in Management?
- US Auto Industry Made Stronger by Increase in Exports
- Will Super Bowl Ad Buzz Generate Sales Buzz?
- Boeing Inspects 787 Dreamliner for Possible Repairs
- Will Toyota Rebound to #1 in 2012?
- What Fueled Record January Auto Sales?
- The Three Year ‘Pinch’ Is Helping New Car Sales
- Ford Earnings Disappoint, Causing New Concerns and Questions for Investors
MOST SHARED
- We're Not Greece: Italian Prime Minister Monti
- Obama Likely to Call for Cutting Top Corporate Tax Rate
- To Play Senate Cybersecurity Bill, Cramer Likes Fortinet Stock
- Greek Cabinet Approves EU, IMF Bailout Bill
- Special Feature: Wall Street History - How Wall Street Got Its Name
- How to Trade the Turmoil in Greece
- Private Homebuilders: Dead Men Walking
- Why Cramer Likes Select Comfort Over Tempur-pedic Stock
- Cramer: 10 Earnings to Watch Next Week
- Lightning Round: Trina Solar, Zoltek, Affymax and More
- In Search of America's ‘Hottest Forecasters’
- Dow vs. S&P 500: Which is a Better Investment?
- Mick Fleetwood on the MP3 ‘Dumbing Down’ of Music
- Avis on the Road to Strong Growth: Analyst
- Private Homebuilders: Dead Men Walking
- LinkedIn’s Growth Is Already Priced In: Analyst
- The Real Reason Behind Bank of America’s Rally
- 5 Hedge Funds’ Top Stocks Soar After 2011 Rout
- This Valentine’s Day Love Is Served on a Silver Platter
- Greek Cabinet Approves EU, IMF Bailout Bill
- We're Not Greece: Italian Prime Minister Monti
- Private Homebuilders in the US: Dead Men Walking
- Dividend Payout Could Hit Record Amount This Year
- With Investors So Bullish, Stock Pullback Must Be Ahead
- Obama Likely to Call for Cutting Top Corporate Tax Rate
- New York Fashion Week Fall 2012
- NetNet: Why Saving Greece Could Destroy the World
- My Funny Valentine: When Love and the Fed Collide
RSS FEED
Behind The Wheel
"Governator" Arnold Wins Fuel Efficiency Battle
![]() |
CNBC.com Arnold Schwarzenegger |
That's the cry you'll hear from Detroit to Washington as President Barack Obama announces a new tailpipe emission standard that mirrors the tough measures California has been trying to impose for years.
California Governor Arnold Schwarzenegger has finally brought the naysayers and feet-draggers in the auto industry to their knees. It's fitting The Terminator will be in Washington Tuesday, along with auto industry leaders to watch the President tell America it's cars and trucks will spew out less pollution in the years to come. After all, Schwarzenegger has become the face of the fight lower tailpipe emissions.
For years, California has pushed for lower tailpipe emissions. Time and again Washington has blocked California and 13 other states from setting their own standards. The Bush administration argued that allowing states to lower emissions would be unfair to auto makers and drive up the cost of vehicles. The Obama folks scoffed at this argument, and now they are standing behind their campaign promises.
The new standard will require automakers to cut tailpipe emissions by 30% by 2016. The fuel efficiency standard, currently at 27.5 MPG, will rise to 35 MPG by 2016. The automakers benefit because the new rule will give them flexibility in how they achieve the fuel efficiency requirements and there will only be one national standard, not a mishmash of varying standards state by state.
As Governor Schwarzenegger told me in Detroit last month, "I believe very strongly that there should be one standard and California was always very clear about that. But because of the leadership lacking in Washington for so many years, and not just the previous administration, but the one before that, I think it goes decades back there was no leadership and there was no one really saying here is the direction we are going to go. This is what the new standard is and we are going to stick to it and not change it." Well said Mr. Governor.
Check out:
_____________________________________
Click on Ticker to Track Corporate News:
- Ford Motor [F
Loading...
()
]
- General Motors [GM
Loading...
()
]
- Toyota Motor [TM
Loading...
()
]
- Nissan [NSANY
Loading...
()
]
- Honda Motor [HMC
Loading...
()
]
_____________________________________
Questions? Comments?










