Tags: Clean Energy
Automobile manufacturers will benefit from higher mileage standards blogs Mindy Lubber for Forbes Magazine. Lubber, President of Ceres, a non-profit organization that works with Fortune 500 companies to develop sustainable business practices, advocates that the strongest standards possible be implemented for the simple reason that it’s what consumers need.
“It shouldn’t need saying that those standards have huge economic implications,” writes Lubber. “Setting the mileage standards bar as high as possible is what $4-a-gallon-weary consumers want. It’s also the best answer to tackle climate change and ensure that domestic car-makers and their workers can compete globally in a world of rising fuel prices.”
The sky-rocketing profits of fuel-efficient cars that came onto the market after the Obama Administration’s implementation of stricter standards following the 2008 bailout of the Detroit Three (General Motors, Ford, and Chrysler) attest to that fact, as do numerous consumer studies by the Citi Investment Research, Ceres and the Mellman group.
Investors, argues Lubber, also want to see higher mileage standards. By making the move towards greater fuel-efficiency, auto manufacturers assure investors that they plan to remain competitive with China—a country that has launched massive investments in electric vehicles and other clean technology.
Lubber’s advice to the auto’s industry is straightforward and honest. “Quite simply, strong fuel economy will fuel America’s economy,” she writes.