President Obama today announced new fuel efficiency standards for cars and light trucks that are expected to produce savings for consumers, reduce U.S. oil dependence, and reduce air pollutants. Joined by executives from the top auto manufacturers in a rare showing of agreement, the president put forward new standards that would require cars and light trucks for Model Years 2017-2025 to achieve 54.5 miles per gallon by 2025.

In the July 12 edition of The Watcher, we observed how disasters like the Yellowstone River oil spill in Montana underscore the need for safeguards and oversight of industry. On Thursday, members of the House Subcommittee on Railroads, Pipelines, and Hazardous Materials held a hearing to investigate the Silvertip Pipeline oil spill, but received no answers as to the causes of the pipeline failure.

An estimate of the cost of public protections often cited by regulatory opponents has been rejected by researchers from the Economic Policy Institute (EPI). The critique, Flaws Call for Rejecting Crain and Crain Model, concludes that because the $1.75 trillion cost estimate is heavily based on flawed methodology and flawed data, it "should not be used either as a valid measure of the costs of regulation or as a guide for policy."

Despite industry pressure, EPA finalized a rule July 6 that will achieve billions of dollars in public health benefits. The Cross-State Air Pollution Rule (CSAPR) requires over 20 states to reduce power plant emissions of air pollutants that contribute to ozone and fine particle pollution in other states. The rule will prevent 13,000 to 34,000 premature deaths, 15,000 nonfatal heart attacks, and 400,000 aggravated asthma attacks per year by 2014.