Congress agreed to raise fuel-economy standards by 40 percent for cars and light trucks by 2020 in a move described by lawmakers as a historic step toward cutting U.S. oil consumption and curbing global warming.
The new rules would require the U.S. to set mileage standards for each type of vehicle to meet a national average of 35 miles per gallon. In exchange for a higher benchmark than automakers had wanted, the industry would continue to get credit for making vehicles that run on alternate fuels such as gasoline blended with ethanol.
The current standard is 27.5 mpg for passenger cars and 22.2 for light trucks.[...]
Congress established the so-called CAFE standards in 1975 in response to the 1973-74 Arab oil embargo that caused shortages at U.S. gasoline stations. New car-fleet economy, set at 12.9 mpg in 1974 according to the Congressional Research Service, was ordered to reach 18 mpg by 1978. Light trucks were required to achieve 17.2 mpg by 1979.
NHTSA set truck standards for subsequent years and imposed fines for noncompliance. Attempts by legislators to raise mileage goals from the early 1990s through 2006 were defeated.
Bloomberg: Congress Agrees To Increase Fuel Standard to 35 MPG
The 35 MPG standard doesn't take effect until 2020.
Which makes it, what, only 30 years too late?