President Barack Obama today visited GM’s Lordstown, Ohio assembly plant to announce new gasoline mileage and greenhouse-gas pollution standards for new vehicles for the 2012 to 2015 model years. The move will lead to Obama’s previously announced requirement of 35.5 mpg by 2016.

The Transportation Department and the EPA said that the proposal calls for fuel-economy to increase by almost 5 percent a year starting with an average of 27.3 mpg for 2011 model year vehicles. The program is estimated to save some 1.8 billion gallons of U.S. oil consumption over the lifetime of vehicles made from 2012 to 2016, reports Automotive News.

“This action will give our auto companies some long overdue clarity, stability and predictability,” Obama said. “For too long, our auto companies faced uncertain and conflicting fuel-economy standards. That made it difficult for you to plan down the road.”

The 1,227 page proposal said that the average car buyer would save more than $3,000 in fuel-costs over the life of a 2016 vehicle. The proposal would affect cars, SUVs, minivans and pickups.

- By: Stephen Calogera

Image Source: Chuck Kennedy (Flickr)