[b]From Reuters May 19th, 2009>

http://news.yahoo.com/s/nm/20090520/bs_nm/us_obama_emissions_11

Obama said the standards, announced at a White House ceremony attended by auto industry and union leaders, would reduce U.S. dependence on foreign oil and give five years of cost certainty to an industry battling to survive.

"The status quo is no longer acceptable," Obama said in an announcement that will pressure carmakers to transform and modernize the industry to produce more efficient vehicles.

"We have done little to increase fuel efficiency of America's cars and trucks for decades," he said, calling the standards the start of a transition to a clean energy economy.

Obama has made fighting climate change a priority, and lawmakers in Congress have begun wrangling over a historic bill many hope will provide broader guidelines for controlling greenhouse gas emissions.

Growing public support for efforts to battle climate change and the weakened state of the U.S. auto industry, which is staying afloat through federal bailouts and restructuring at the government's direction, gave Obama a window of opportunity to impose the rules.

Criticism of Obama's announcement was limited, and focused on the higher production costs, the safety concerns created by producing lighter cars and fears from some observers about increasing government involvement in the industry.

"The government is now designing our cars. It's out  partners in oil trade of the hands of vehicle manufacturers," said auto industry consultant Larry Rinek.

Under the new standards, U.S. passenger vehicles and light trucks must average 35.5 miles per gallon (6.62 litres/100km) by 2016. The current law, approved by the Bush administration, requires a similar gain by 2020.

Obama said the new standards would save 1.8 billion barrels of oil over the lifetime of the program -- the equivalent of taking 58 million cars off the road for a year.
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Personally, I think this is a serious wake up call for Nigeria!! If we haven't learned anything from the drastic drop in the price of oil, then we are in bigger trouble. This is a no brainer. The US along with other western giants are looking for ways to cut down their dependency on the Arab nations. This has been their archiles heel for a long time and an obstacle in their “war on terrorism.” The emission standards is only part of a bigger plan to cut down on demand for oil. This will affect Nigeria's revenue in the near future and our 90% oil-GDP economy will really be in for it. It is high time we really take our "pre-oil boom" resources more seriously as we are blessed with abundant resources apart from oil. States need to independently look inward and look for ways to generate revenue and not be 100% dependent on a federal budget that is almost 100% dependent on oil.
This is something to take extremely seriously!

Your thoughts.

We shall see how this works out!!

When our oil dries up, which may happen in our lifetime, then we'll wake up.

@Lax. . .you are right on the money. . .this should be a major concern for Nigerians and its leaders.

It is possible for some to think this will not affect Nigeria. . .well, it is better to be prepared otherwise. . .Nigeria's dream 202020202020 just got squared! In 1961, the then President J. F Kennedy challenged Americans and launched their space program. This was at a time when technology and knowledge was far limited and space represented a new frontier to be conquered? They accomplished their mission and have broken most of their record achievements ever since.

Well, increasing EPA standards will be far easier than developing space technology. If history points to anything, they have accomplished most challenges that confronted them successfully and this will not be an exception. But that is the USA, what is the pretentious servant leader and his gang of robbers doing? Suyaing, kunuing, big stouting and womanising while dishing out kill'em orders to wipe out the people in the Niger Delta? Thank you Obama for not honoring the beggarly, do-or-die election-rigging, conscience-stealing, arodan joker of a non-president with your audience. . .who will only gleefully announce to the whole world. . .'your visit is the best day of his life'!

I just hope it happens in my life time. I want a battery powered mercedes.

I wish our leaders were visionaries like the Arabs. Obviously they have anticipated this and are now investing in other industries. The west is quite predictable. Once America takes the first step it wont be long when others like Britain, France, Germany, Italy, Spain etc follow suit. That's just how they work and these are all countries that are our major trade partners in trading oil.

When I say that the states should not be totally dependent on the federal budget and look within, I mean that they should establish and boost their economies based on their God given resources. For example, in the US, you have states like Nevada that has Las Vegas (entertainment revenue), States like Delaware where all corporations in the US like to incorporate due to attractive corporate tax policies, Texas is well known for Agriculture, North Carolina is the banking hubb of the south thanks to Charlotte, Florida has its oranges and big tourism industry with cities like Miami and Orlando, etc etc

We can employ this same model in Nigeria where we have 30 states.

My 2 cents

OK we sell our oil to China and India only, how do you like that Mr President?

@lax, Dude well said.