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Gas Prices Rising, Should Biden Drill For More Oil?

by Market FinancePosted onApril 7, 2023April 7, 2023

Gas Prices Rising, Should Biden Drill For More Oil?

White House Looking To Ban What Now?

Biden is looking to crack down on gas cars now.

The Biden government is considering a bold plan to introduce the most stringent federal standards for tailpipe emissions ever, with the aim of promoting the use of electric cars.

As per Bloomberg’s report on Thursday, citing sources who were briefed on the proposal, the Environmental Protection Agency (EPA) is anticipated to declare the updated regulations affecting vehicles produced from 2027 to 2032 in a ceremony taking place next week in Detroit. The EPA has confirmed in a statement that the new standards are aimed at encouraging consumers to opt for electric vehicles (EV).

“Already, President Biden’s Investing in America agenda is powering a domestic clean energy manufacturing boom, lowering costs for American families, and creating good-paying union jobs,” Biden’s EPA told Fox.

The EPA’s statement further added that the development of new regulations is in accordance with an executive order from the President to continue the advancement towards a zero-emission transportation future, which will benefit consumers by reducing costs and promote environmental protection. The statement also mentioned that as the rules are currently under interagency review, the EPA cannot provide any additional information regarding the standards.

Following an executive order signed by President Biden in August 2021, the EPA was directed to introduce fuel efficiency and emissions standards to address the climate crisis. The agency has since reversed a previous administration’s rule and implemented greenhouse gas emissions standards for vehicles manufactured between 2023 and 2026, which they touted as the most ambitious of their kind.

The forthcoming proposal, anticipated to be announced next week, is in line with the Biden administration’s robust efforts to encourage more Americans to adopt electric vehicles and switch to electric home appliances in order to fight against global warming. President Biden had established a target soon after taking office, aiming for half of all vehicles sold in the U.S. to be zero-emission by 2030, and has frequently visited electric vehicle manufacturing facilities to promote his vision.

A recent report by the Alliance for Automotive Innovation revealed that despite the significant efforts made by President Biden and Democratic-led states to promote electric vehicle adoption, traditional gasoline-powered cars still accounted for 93% of all new car sales in 2022. Furthermore, electric vehicles remain relatively costly and less efficient compared to other alternatives.

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Posted in Daily PollTagged amazon, AMC, Biden, Bitcoin, bitcoin merchant account, bitcoin mining cloud computing, bitcoin stock chart, business, buy stocks with bitcoin, car insurance, company, crisis, crypto, cryptocurrency, Doge, DOW, DOW Jones, ethereum, Finance, GME, how to invest in bitcoin stock, inflation, investing, market, mortgage, oil, OPEC, Poll, real estate, S&P, S&P 500, stock market, stocks, supply chain, Tax, taxation, Tesla, trading

Published by Market Finance

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  • Garth Brooks Flips On Republicans
  • Essential Business Flees Democrat City
  • Biden Says He Added More Jobs Than Any Other President, You Agree?
  • Democrats Paying Illegals How Much Per Week?
  • Retailer’s Solution To Stop Democrat Endorsed Theft

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