The Next Generation of Transportation Policy

Longstanding policy for reducing fuel consumption by light duty vehicles in the United States has used fuel-economy standards as a mainstay. The standards were extended in 2011 and 2012 in order to achieve deep reductions in oil demand and greenhouse gas emissions through 2025, consistent with long-term policy goals. But standards focusing solely on efficiency, rather than long term consumption, impose needlessly high costs without ensuring savings in petroleum usage. Drawing on cost-benefit analysis, which has defined United States regulatory policy for over 30 years, the authors propose an innovative policy that would implement a cap-and-trade system in transportation. While cap-and-trade is controversial, the authors show that this approach would improve reductions in transportation fuel consumption at a far lower cost, and that it is consistent with existing regulatory approaches at federal transportation agencies.

• Record URL:
  https://www.brookings.edu/wp-content/uploads/2017/03/es_20170327_next_generation_transportation_policy_pp.pdf
• 
• Summary URL:
  https://www.brookings.edu/research/the-next-generation-of-transportation-policy/
• Corporate Authors:

  Brookings Institution

  1775 Massachusetts Avenue, NW
  Washington, DC  United States  20036

  Hamilton Project

  1775 Massachusetts Ave., NW
  Washington, DC    20036

  Energy Policy Institute at the University of Chicago

  ,    
• Authors:
  • Greenstone, Michael
  • Sunstein, Cass
  • Ori, Sam
• Publication Date: 2017-3

Language

• English

Media Info

• Media Type: Digital/other
• Features: Figures; References;
• Pagination: 36p

Subject/Index Terms

• TRT Terms: Benefit cost analysis; Emissions trading; Fuel consumption; Greenhouse gases; Transportation policy
• Uncontrolled Terms: Light duty vehicles
• Geographic Terms: United States
• Subject Areas: Energy; Environment; Policy; Transportation (General);

Filing Info

• Accession Number: 01684298
• Record Type: Publication
• Files: TRIS
• Created Date: Oct 25 2018 5:16PM