President Obama announced his intention to sign a Presidential memorandum that would improve vehicle emission and fuel economy standards, effectively reducing greenhouse gas emissions nationwide.

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Last week, the Environmental Protection Agency (EPA) and the National Highway Traffic Safety Administration finalized new fuel economy standards for motor vehicles, in combination with the first-ever federal greenhouse gas emissions reductions requirements in the United States. The new standards apply to passenger vehicles and light-duty trucks in model years 2012 through 2016, and are designed to cause the average fuel economy of new vehicles to increase to 35.5 miles per gallon by 2016. They require that automakers reduce the greenhouse gas emissions of the new vehicle fleet by about 5 percent each year from 2012 through 2016. The new standards are projected to save 1.8 BILLION barrels of oil and about 960 million metric tons of global warming pollution over the lifetime of the vehicles. This is the equivalent of the pollution reduction benefits of taking 32 million cars off the road.

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This morning in Washington, D.C., the president and administration officials unveiled their plan to create the first ever national fuel economy standard, calling for a five percent increase in fuel economy every year for all new cars and trucks sold in the United States. This nationwide policy would reduce global warming pollution, help break our dependence on oil, and save drivers money at the pump. President Obama described the policy as a roadmap for building the cars of the 21st century. Read the original White House press release from May 2009.

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Yesterday, Moving Cooler: An Analysis of Transportation Strategies for Reducing Greenhouse Gas Emissions was released by the Urban Land Institute (pdf) with the support of a strong array of public and private sponsors.

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