DC Update From the US Oil and Gas Association
Washington Update
Keeping it Short for Father's Day
June 14, 2024
A Quick Read This Week:
Unlike weeks past – we have tried to keep the weekend reading short so you can enjoy your Father’s Day.
API and others sue EPA to protect Americans
This week, API, the National Corn Growers Association, American Farm Bureau Federation, and some auto dealers sued EPA over its EV mandate. As they explain, “in March, the Biden administration finalized new federal vehicle emissions standards for light- and medium-duty vehicles that require 68% of new passenger vehicles and 43% of new medium-duty trucks and vans to be electric by 2032.”
This is obviously impossible, but mandating the impossible does not stop EPA.
EV proponents reduce EV sales projections
Electric vehicles have swiftly gone from a bright spot in the global climate fight to cause for concern, leading Bloomberg NEF to slash sales estimates and warn that the auto industry is falling further off the track toward decarbonization.
In its annual Electric Vehicle Outlook, BNEF reduced its battery-electric sales projections by 6.7 million vehicles through 2026. While the demand deceleration isn’t universal across countries and EVs will be buoyed somewhat by the resurgence of plug-in hybrids, a few Nordic countries and the state of California are the only places on pace to eliminate passenger vehicle fleet emissions by 2050.