60 mpg in15 years?

60 mpg in15 years?

The Consumer Federation of America (CFA) and Natural Resources Defense Council (NRDC) think the U.S. can do better when it comes to fuel economy and they want the government to take some action. Automakers must already meet a 35.5 mpg standard by 2016, pursuant to the 2007 Energy Independence and Security Act. Whats more, the law mandates a 40 mpg by 2020. But the CFA and NRDC think thats not good enough and are calling on federal lawmakers to set a fuel economy standard of 60 mpg for 2025.

A report from CFA says that the technology exists to get there and it estimates that it would add about $2,600 to the cost of new cars and $3,200 to light trucks. CFA then postulates a five year payback period for the extra costs in 2025, at a 2010 price of $3.50 per gallon.

Critics suggest that is wishful thinking on the CFAs part, and note that gas would need to be more like $5 per gallon to get people to buy such higher mpg vehicles. And that, they say, is not likely to happen. Ironically, gasoline prices are likely to fall in the future as the average mpg of the vehicle fleet improves and oil supplies increase.