Mo Omer
In a bid to reduce foreign oil dependency, the white house announced goals to increase Corporate Average Fuel Economy standards by over 50% by the year 2025.
With rocky oil prices, and countries like Saudi Arabia acknowledging that oil prices should be lower to increase American dependence on Saudi Arabian oil, the Obama administration is taking steps to reduce this dependency.
Major car companies have embraced the coming changes to policy, with Toyota Motor Sales of America President announcing today that they, “share the Administration’s goal of achieving major advances in clean, fuel efficient vehicles.”
With current crude oil prices falling just below $96.00/barrel, and oil demand at its lowest for this time of year in the past 11 years, it seems that the White House’s attempts to free America from foreign oil dependency are working.
Mo Omer is a small business consultant, and is the founder of a Minneapolis Marketing company.