This morning, President Obama signed a Presidential Memorandum on fuel efficiency standards, an initiative that will build on his goal to move towards improved fuel economy for vehicles. The signing comes a year after he made a historic agreement to break America’s dependence on foreign oil and create clean energy jobs.
The President explained that one year later, we are already beginning to see the results of that goal. The Presidential Memorandum signed today will take another step forward by proposing the development of a national standard for larger heavy-duty trucks. The Memorandum directs the Department of Transportion and the Environmental Protection Agency (EPA) to create a first-ever National Policy to increase fuel efficiency and decrease greenhouse gas pollution from medium- and heavy-duty trucks for Model Years 2014-2018. Trucks consume more than two million barrels of ail every day and emit 20% of all transportation related greenhouse gas pollution, and the new standard is expected to bring down costs for transporting goods while reducing pollution and spurring growth in the clean energy sector.
The President explained that this is a matter of global importance:
We know how important that is. We know that our dependence on foreign oil endangers our security and our economy. We know that climate change poses a threat to our way of life -– in fact we’re already seeing some of the profound and costly impacts. And the disaster in the Gulf only underscores that even as we pursue domestic production to reduce our reliance on imported oil, our long-term security depends on the development of alternative sources of fuel and new transportation technologies.
But we also know that our economic future depends on our leadership in the industries of the future. Around the globe, countries are seeking an advantage in the global marketplace by investing in new ways of producing and saving energy. From China to Germany, these countries recognize that the nation that leads in the clean energy economy will lead the global economy. And I want America to be that nation.