President Obama signed the Presidential Memorandum at a ceremony on Friday.
On Friday, the White House took another step towards increasing the efficiency of American vehicles and offering support for electric-drive vehicles. Is it a coincidence that this new drive for vehicle efficiency comes as the impact of the Gulf oil spill reaches disastrous proportions? No way.
"The disaster in the Gulf only underscores that even as we pursue domestic production to reduce our reliance on imported oil, our long-term security depends on the development of alternative sources of fuel and new transportation technologies," the president said.
What specific actions did the President take? First, he signed a Presidential Memorandum to the EPA and Department of Transportation instructing them to draft a policy to increase fuel efficiency for medium and heavy-duty trucks. The standards would mark the first time that large commercial trucks will have to meet national fuel economy targets. Combine these new rules for trucks, with a 35.5 MPG fuel efficiency target for cars and trucks by 2016 already on the books�plus the President�"s push for even higher standards from 2017 � 2025�and you can see small glimmers of a genuine effort by the Obama administration to make a dent in the nation's addiction to oil.
Mixed Messages on Drilling
President Obama also called on the Energy Department to expand incentives for electric cars. Currently there is a tax credit of between $2,500 and $7,500 for buying an electric car, and $4,000 for converting a hybrid to a plug-in hybrid. These credits are scheduled to phase out after an automaker builds 200,000 battery-electric cars, and after Dec. 31, 2011 for plug-in hybrid conversions. Without these incentives in place for at least several years, the electric car movement would be slow and uncertain.
Read More... [Source: HybridCars.com]
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