Thanks to fuel economy standards established by the Obama Administration, cars and trucks on the road in 2025 will average 55 miles per gallon of gas. These tougher fuel standards will reduce our oil consumption by more than 2 million barrels a day, but we have to do more.
In his State of the Union, President Obama introduced an all-of-the-above strategy that develops every available source of American-made energy. This includes everything from tapping our vast natural gas reserves, to doubling down on clean energy resources like wind and solar power, to developing new technologies that help us use less energy altogether. The President’s strategy will help us depend less on imported oil that’s subject to annual price spikes and create job jobs for American workers.
And, as the President explained at the University of Miami on Thursday, we need the right incentives in place to help put this strategy in place. Instead of $4 billion in yearly taxpayer-funded subsidies to the oil industry—which is reaping record profits—we should renew tax credits that encourage new investments in clean energy.
Want to learn more about President Obama’s blueprint for an America built on homegrown energy? Here’s everything you need to know.