The President's New Emission Standards May Raise Gas Prices
Written by Your 5News Team
Last updated on March 31, 2013 @ 5:30PM
Created on March 30, 2013 @ 10:09PM
It seems like gas prices keep going up, and now that's where they'll likely be staying. At least that's what the oil industry claims is going to happen because of President Obama's new proposal.
On Friday, the president unleashed some new rules that aim to clean up on pollution, but could be costing us some money. It's meant to help clear the air of harmful emissions from vehicles, but the changes could mean even higher prices at the pump.
The Environmental Protection Agency says the new bill will reduce sulfur in gasoline by 60 percent and nitrogen oxides by 80 percent. Which they say, is equal to taking 33 million cars off the road.
Now the EPA says this is all good news and you'll only see an increase of about one cent at the pump, and only a $130 increase in the price of a car by 2025. They also claim this will save billions in health costs by slashing the smog we breathe.
However, reps from the oil industry say it'll be more like a six to nine cent increase. That's because refineries would have to buy new equipment to meet those standards.
Also, they claim that over the past nine years, they've already cut sulfur emissions by 90 percent and spent $10 billion doing so. Some claim that the energy needed for the additional refining could increase carbon pollution by one to two percent.
The political players have a lot to say, but what about the consumers who this affects?
Andrew Morris said, "I really feel that if states were to lower their gas tax, or cut it out all together, then I think people would be a lot more comfortable with that penny to nine cents."
She added, "I think it's a good thing that we do what we can to save the environment, but in all reality, I personally believe that the impact isn't as big as what people think it is. You have to get to that point where you step back and look 'okay, is it really going to benefit us as much as we're thinking?'"
The White House says this won't take effect for at least another four years, but when it does 2,400 lives a year could be saved and 23,000 will avoid respiratory illnesses.
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