Transportation Secretary Norman Mineta yesterday announced new corporate average fuel economy standards (CAFE) for light trucks. Environmentalists are complaining that the standards don't go far enough. My view is that they are completely unnecessary. The bottom line is that drivers don't care about fuel efficiency when gasoline is cheap. But when it's expensive, like it is now, they care very much. The proof is that SUV makers are finding it difficult to sell these once very profitable vehicles without offering substantial incentives. I wrote about this for Forbes last August when the new rules were first proposed. Read more by clicking below:
We Don't Need No Stinking CAFE
