This paper provides the first comprehensive social welfare estimates of recent fuel economy and greenhouse gas emissions standards.

Many energy consuming consumer durable goods, such as home appliances and vehicles, are subject to energy efficiency or greenhouse gas standards.

Several studies have found that taxing vehicle purchase or ownership on the basis of carbon dioxide (CO2) emissions reduces CO2 emissions.

Energy efficiency standards based on product attributes may interact with market conditions and affect the overall stringency of the standards. In this paper analyze the interaction between gasoline prices and the redesigned and tightened federal fuel economy standards.