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EPA sets higher fuel-efficiency standards
Holiday traffic on the 210 freeway near Los Angeles, Calif.: Only 8 percent of travelers will opt to fly over the Thanksgiving break, the vast majority will drive.
Holiday traffic on the 210 freeway near Los Angeles, Calif.: Only 8 percent of travelers will opt to fly over the Thanksgiving break, the vast majority will drive.
Kevork Djansezian/Getty Images
T

he Environmental Protection Agency on Tuesday finalized higher fuel-efficiency standards for vehicles, in a bid to lower consumption of oil and reduce greenhouse gas emissions. Under the rules, automakers will have to raise the average fuel efficiency of their cars to 54.5 miles per gallon by 2025. The White House hailed the new standards as "the single most important step we've ever taken to reduce our dependence on foreign oil," estimating that the move would cut greenhouse gas emissions in half by 2025, while saving consumers $1.7 trillion in fuel costs. Even though the new rules were endorsed by the auto industry, Mitt Romney has promised to overturn them.

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