Should the EPA Spur Emissions Trading?

The Trump administration is close to an official announcement freezing fuel economy standards for U.S. cars and light-trucks at their 2020 levels (roughly 35-37 miles per gallon), rather than continuing to increase them to around 50 mpg by 2025. The end of Obama-era standards should not be interpreted as either a terrible idea for the environment or a victory for automakers and polluters. Instead, it’s an opportunity to end a regulatory system that failed to deliver on its promises for decades. Congress’ intent when it passed the 1975 Corporate Average Fuel Economy (CAFE) Act was to reduce the amount of… [more]