Last week, the Environmental Protection Agency (EPA) announced a series of new rules and regulations that are set to increase the cost of a gallon of gasoline by six to nine cents, warned various oil industry experts.
The administration of President Barack Obama is proposing to reduce sulfur in gasoline and tighten emission standards on cars as of the year 2017, according to a media release. The federal government has stated that it will add less than one cent to gas and an extra $130 to the full cost of an automobile starting in 2025, clearly contradicting projections by those closely involved in the industry.
Furthermore, the EPA is citing numerous health benefits that could from these series of new rules that are aimed to clean up gas and automobile emissions. One of these gains is billions of dollars in healthcare savings by diminishing the effects of smog-and-soot-forming pollution.
“The Obama Administration has taken a series of steps to reinvigorate the auto industry and ensure that the cars of tomorrow are cleaner, more efficient and saving drivers money at the pump and these common-sense cleaner fuels and cars standards are another example of how we can protect the environment and public health in an affordable and practical way,” said EPA Acting Administrator Bob Perciasepe in a prepared statement.
“Today’s proposed standards – which will save thousands of lives and protect the most vulnerable – are the next step in our work to protect public health and will provide the automotive industry with the certainty they need to offer the same car models in all 50 states.
Republicans and Democrats in Washington are urging the EPA to delay the new rules because of the higher costs associated with the initiative, especially in a tough economy.
“There is a tsunami of federal regulations coming out of the EPA that could put upward pressure on gasoline prices. EPA’s proposed fuel regulations are the latest example,” Bob Greco, director of the American Petroleum Institute Downstream Group, told Newsmax.