Big Oil cheers quietly as Trump moves to ease auto standards
The Trump administration’s plan to relax fuel-economy and vehicle pollution standards could be a boon to U.S. oil producers who’ve quietly lobbied for the measure.
The proposal, released Thursday, would translate into an additional 500,000 barrels of U.S. oil demand per day by the early 2030s, about 2 to 3 percent of projected consumption, according to government calculations.
“It’s a meaningful increase in U.S. oil consumption” and one of the biggest steps the Trump administration could take to boost crude demand, said Trevor Houser, a partner with the Rhodium Group, a research firm that’s analyzed the proposal. “In terms of policy interventions that the U.S. government has taken or could take, this is certainly the most significant.”
The Environmental Protection Agency and National Highway Traffic Safety Administration proposed locking in U.S. fuel-economy and tailpipe greenhouse gas emissions requirements at 2020 levels of 37 miles per gallon. The existing standards the Trump administration wants to replace call for a steady increase to roughly 47 mpg by 2025.
https://www.msn.com/en-us/money/markets/big-oil-cheers-quietly-as-trump-moves-to-ease-auto-standards/ar-BBLr1gg?li=BBnbfcN
Just like drug dealers aren't they?
