Obama to raise CAFE standards

President Obama will significantly increase Corporate Average Fuel Economy (CAFE) standards, possibly as early as tomorrow.

The NY Times reports that Obama will combine the more stringent mileage standards California has adopted with existing CAFE standards to create a single, national standard. Environmentalists will be pleased with the higher targets, while automakers have long sought a national standard.

Mileage standards will rise 30% by 2016 under the new rules, which demand 42 MPG for cars and 26.2 MPG for light trucks.

From the Times: