European fuel efficiency standards for new vehicles will lead to a lower global oil price according to a groundbreaking new study published today by Enerdata energy consulting. National governments must respond by increasing fuel taxes to counteract the increase in oil demand and greenhouse gas emissions that would result, according to T&E who commissioned the study.
Briefing and policy recommendations on the Enerdata study for T&E on the impact of reduced oil consumption in Europe on world oil prices.
This study, by Enerdata, investigates the effects of four different legislations on CO2 emissions for new cars sold in the short (2010), medium (2020) and long term (2030).
European member state industry ministers will discuss how the financial crisis is affecting the European car industry at the Competitiveness Council meeting, in Brussels on Thursday 5 March 2009.