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Commerce ups gas standards, adds price-gouging fines |
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Posted: 05/08/07 07:21 PM [ET] |
The global warming debate has made near-enemies of the oil and automobile lobbies, each of which has suggested the other should do more to curb emissions.
Now they have a common complaint: a bill the Senate Commerce, Science and Transportation Committee passed yesterday that would raise automobile mileage standards and impose stiff fines on oil and gas companies found guilty of manipulating prices during a crisis.
A spokesman for the Alliance of Automobile Manufacturers, Charles Territo, called the Corporate Average Fuel Economy increase to 35 miles per gallon for cars and light trucks “unobtainable.” The bill does allow for an administration to suspend annual increases if they aren’t economically feasible.
Charles Drevna, of the National Petrochemical and Refiners Association, told the committee leaders that the price-gouging amendment could make it more difficult to meet disruptions in gasoline supplies.
The bill moves to the floor with other energy legislation this spring.
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