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Regulated to death: Obama's CAFE standards will prove bad for business and lethal for consumers.(President Barack Obama on Corporate Average Fuel Economy)
MAY 19 was a perfect day for a White House photo op. The sun was out, the Rose Garden was full, and everyone was smiling, even the CEOs of several automakers--which was ironic, because they were there to sign a suicide pact.
President Obama was unveiling, in his words, a "historic agreement"--a "harbinger of a change in the way business is done in Washington." The federal government's fuel-economy standards were being ratcheted up yet again, to 39 mpg for cars and 30 mpg for SUVs and other light trucks by 2016. That is one huge increase over the current standards, 27.5 and 23.1 mpg. And it is just latest turn in a decades-long saga known as Corporate Average Fuel ...
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