The Obama administration summarized the impact of its plan to boost U.S. automobile fuel efficiency standards and limit greenhouse gas emissions as follows:
•Requires yearly 5 percent increases in fuel efficiency from 2012 through 2016, resulting in an average fuel economy standard of 35.5 miles per gallon in 2016.
•Cuts oil consumption by an estimated 1.8 billion barrels over the life of the program.
•Cuts greenhouse gas emissions by a projected 900 million metric tons.
•Supported by 10 car companies and the United Auto Workers union.
•Sets one clear, national policy for all automakers, instead of standards from the Transportation Department, Environmental Protection Agency, and a California standard that would apply to 13 other states.
•Gives automakers clarity, predictability and certainty about the rules, as well as flexibility to meet the expected outcomes.
What this means for South Africa
SA Treasury plans Green Taxes
"IN LINE with international trends, the government has proposed environmental tax incentives in an attempt to address the negative effects of climate change.
The draft Taxation Laws Amendment Bill 2009, which was released for comment earlier this week by the Treasury, contains two incentives in support of the environment.
Businesses will be able to cut their tax bill by reducing their carbon emissions." BusinessDay 04/06/09
South Africa is the 12th highest contributor to WORLD CO2 emissions, which means we can become not only the leader for climate change on the African continent but a world leader in terms of accelerating CO2 emission reductions.
