Recent drone attacks have wreaked havoc on the Saudi Aramco oil facilities along with imposed sanctions on Venezuela and Iran. These events should all be pointing one direction for the crude prices…..up. Instead of the anticipated price increase, the recent fear of recession has helped keep the market in check.
Earlier this week, California senator Nancy Skinner proposed a daring bill that targets air quality and limiting greenhouse gas emissions. The bill would oblige the California Air Resources Board to, “require a 40 percent reduction in diesel emissions by 2030 and an 80 percent reduction by 2050.” This is not the state’s first proposed bill to cut emissions, but certainly has garnered attention due to the huge impact this would have on the transportation industry in California.
Governor Wolf is attempting to “clean up” Pennsylvania’s emissions. His new Executive Order will require 25% of government vehicles to be replaced by electric vehicle by 2025. The big push for this change is mostly financially motivated, as it is projected to gain the state just under 3 billion dollars in subsidies due to a reduction in vehicular and greenhouse gas emissions. Major cities such as Pittsburgh and Philadelphia are doing their best to stay ahead of the curve. Other benefits include lower greenhouse gas emissions and a speculation that respiratory disease might be reduced.
This week the Environmental Protection Agency (EPA) and National Highway Traffic Safety Administration (NHTSA) are set to announce a joint proposal dubbed the “Safer and Affordable Fuel Efficient Vehicles Rule.” This decision comes after months of “deliberative discussions” between the agencies “as is typical for any joint rulemaking, the agencies provided feedback to each other as they developed their policy and analysis for the proposal,” the NHTSA said.