As the world’s largest automobile markets, the United States and China lead the world in oil consumption, importing more than half the petroleum they consume. The CERC-Clean Vehicles Consortium seeks to reduce this oil consumption by supporting the joint research of the nations’ leading experts in clean vehicle technologies. The University of Michigan’s Prof. Huei Peng and Tsinghua University’s Prof. Minggao Ouyang lead this effort.
TE3 brings economic scholars together with government and industry practitioners to explore transportation and fuel research for energy and environmental policies that will foster progress toward long-term climate protection and business goals.
If EVs are critical to significantly reducing or eliminating carbon dioxide emissions from automobiles over the next three decades – and I believe they are – we need to think about ways to appeal to desires and interests not only of consumers, but of public and private institutions with a stake in our energy and transportation systems. In short, we should extol EVs not for their low-carbon virtue, but as a way to create and to satisfy demand in both the electricity and transportation sectors.
American consumers have been enjoying Christmas since July – that is, July 2014, when the average price for all grades of gasoline peaked at US$3.75 per gallon, according to the Energy Information Administration. Since then, prices have declined substantially, as every motorist knows: to $2.90 by Thanksgiving 2014 and to $2.14 as we approach the end of 2015. In many parts of the country, the price of regular gasoline is well below $2 per gallon today.
On November 30, as the Paris international climate conference was getting underway, the U.S. Environmental Protection Agency (EPA) announced a long-overdue update of Renewable Fuel Standard (RFS) requirements. Originally established in 2005 and then greatly expanded by the Energy Independence and Security Act (EISA) of 2007, the RFS mandates increasing use of ethanol, biodiesel and other biofuels in America's cars and trucks.