Can the world economy recover with rising oil prices?

[NJ5]

 

@akuma587: I don't think the US is setting an example for anyone with these fuel standards, at least not for the biggest consumers of oil. As far as I know, Europe and China have had more stringent fuel standards than the US for a long time.

http://euobserver.com/885/28171

Anyway, setting higher fuel standards is definitely a good thing, but it only addresses one part of the problem... that and it looks like too little too late. The world isn't doing enough.

@akuma587: I don't think the US is setting an example for anyone with these fuel standards, at least not for the biggest consumers of oil. As far as I know, Europe and China have had more stringent fuel standards than the US for a long time.

http://euobserver.com/885/28171

Mr Obama's plan, a compromise between car manufacturers and environmental critics, would require the average US vehicle - cars and light trucks - to achieve 35.5 miles per gallon (in metric around 15 kilometres to the litre) by 2016, a 30 percent advance over current fuel standards.

(...)

China currently enforces an average fuel efficiency standard of 35.8 miles per gallon (mpg) and Japan demands 42.6 mpg.

Europe meanwhile requires vehicles achieve 43.3 mpg and by 2016 - the deadline of the Obama scheme - vehicles in the 27-country bloc will have to meet an efficiency standard of 50 mpg.

Anyway, setting higher fuel standards is definitely a good thing, but it only addresses one part of the problem... that and it looks like too little too late. The world isn't doing enough.