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Oil Industry Is Big Winner As EPA Freezes Mileage Rules; EPA, California Prepare For Court Fight

As reported in Forbes: Oil producers and gas refiners are the biggest winners from the Trump administration’s decision to freeze auto fuel economy standards after 2021 and to revoke California’s authority to set stricter rules on greenhouse gas emissions.

John DeCicco, research professor at the University of Michigan Energy Institute, said he doesn’t expect car companies to abandon their electric vehicle investments, nor to make any other major changes in product development because of the Trump administration’s announcement,.

“There’s no question the world is moving slowly, but surely toward greater electrification of the vehicle fleet. The operative word is slowly,” DeCicco said. “They’re covering their bases because they have longer-term strategies than just the next election cycle.”