Wednesday, June 8, 2011

SAFE Analysis: Proposed Fuel Economy Standards could Save Millions of Barrels of Oil per Day; Strengthen Energy Security

WASHINGTON, June 8, 2011 -- On day when OPEC meets to determine production levels, new report examines how improved fuel economy standards can reduce dependence on oil

WASHINGTON, June 8, 2011 /PRNewswire-USNewswire/ -- Securing America's Future Energy (SAFE) today released original analysis showing that the country could reduce its dangerous dependence on oil by millions of barrels per day through improvements in fuel economy standards. SAFE's report examines the proposed fuel economy standards for 2017-2025, and comes on the same day that the Organization of the Petroleum Exporting Countries (OPEC) is meeting to set production levels.)

"There can be little doubt that an aggressive fuel economy standard presents the opportunity to reduce substantially our oil consumption and its attendant risks," said Admiral Dennis Blair (U.S. Navy, ret.), former Director of National Intelligence and member of the Energy Security Leadership Council." The critical element of our dependence on petroleum is our cars and trucks, which use the majority of our oil and power our modern economy. Improving fuel efficiency standards will have an immediate impact on reducing our oil consumption – which is critical to our economic and national security."

SAFE's analysis estimates the oil savings from each of four different scenarios that the agency is considering: tightening standards by three, four, five, or six percent a year each year from 2017 – 2025. Depending on the level of increased stringency, SAFE analysis shows the following savings range:

In 2025, a savings range from 0.8 to 1.6 million barrels per day (MBD)
In 2040, a savings range from 2.3 to 4.4 MBD
In 2050, a savings range from 2.8 to 5.2 MBD
On October 13, 2010, the Environmental Protection Agency and the National Highway Traffic Safety Administration published a Notice of Intent that declares the agencies' intent to issue regulations that will require automakers to increase fuel efficiency standards between model years 2017 and 2025. The new proceeding expands on recently established requirements that improved light-duty vehicle fuel economy standards from 27.5 miles per gallon (MPG) today to approximately 35.5 MPG. Although the standards only go through 2025, the oil savings increase for years afterwards because of the time it takes time for the fleet to turn over and for the relatively inefficient cars already on the road to be replaced by newer and more efficient cars.

To view the complete analysis, go to

Location: Cayman Islands

No comments: