New Study Finds Auto Fuel Economy Standards Will Save Texans $2 Billion per year

HOUSTON– A new report by Environment Texas finds that the automobile fuel economy provision in the Senate energy bill would save Texas consumers $2 billion dollars at the pump in 2020, reduce oil consumption by 99 thousand barrels per day and would be the equivalent of taking 1.2 million cars off the road.

“Rising energy prices are gobbling up consumer savings this Thanksgiving season,” said Colin McKellips, Environment Texas Field Associate. “With oil approaching $100 a barrel, it is past time for Congress to take action and pass an energy bill that increases fuel economy and requires renewable electricity to save consumers money on their energy bills.”

Environment Texas’ new report “Driving Towards a New Energy Future”, shows that in 2020 alone Texas consumers would save 2 billion dollars at the pump in 2020 and reduce oil consumption by 99,600 barrels of oil a day. 

The savings of the CAFE provision would be even more significant nationwide. The Senate bill would:

• reduce our national energy consumption by 1.2 million barrels per day in 2020,

• save American consumers $26.5 billion dollars; and

•  be the greenhouse gas pollution reduction equivalent of taking 14 million cars off the road.

This summer the Senate passed the first new corporate average fuel economy (CAFE) legislation in more than 30 years. Unfortunately, the House energy bill did not contain the same provision. As Congress works to come up with a final energy bill, the CAFE provisions and a renewable electricity standard must be combined with efficiency provisions to create a bill that would put America on the path toward a new clean energy future.

“It is time for the auto industry to make our cars go farther on a gallon of gas instead of making the same tired excuses about how they can’t do it,” said McKellips. “We have the technology to get to 35 mpg by 2020. It’s time for Congress to pass a strong energy bill.”