It has been almost 30 years since Congress adopted legislation setting fuel economy standards (CAFE) for cars and light trucks, but with increasing pressures to reduce dependency on foreign oil and reduce emissions (which can be related to vehicular fuel efficiency), the House and Senate have each passed legislation setting new, higher CAFE standards for future vehicles.
During the last IMPA meeting of 2007 Thursday, December 20 Michael J. Stanton, president and CEO of the Association of International Automobile Manufacturers (AIAM), will try to answer many of the questions the pending legislation has fostered. Questions like: Will both houses of Congress be able to agree on new energy legislation by the end of the year? If so, will the President sign the legislation into law? What kind of new vehicle technology and new fuels will be required to meet these new standards? Have the “domestic” car companies and the “international” companies finally agreed to support the same fuel economy goals after so many years of disagreement? Will California once again be granted a waiver to set its own, tougher standards? If so, what will that mean to states in the Northeast who want to adopt those tougher new standards?
The AIAM, a Washington-based trade group, represents 14 international automakers which accounts for 40 percent of the United States market in sales, 31 percent of U.S. production and more than $35 billion invested in U.S. manufacturing facilities. Stanton has spent almost 30 years representing motor vehicle manufacturers before Congress, the executive branch, state legislatures and international automobile associations. His close involvement in the legislative process toward a new energy policy with key legislative committees on Capitol Hill during the past few months will enable him to provide an insider’s perspective on how major new legislation is crafted and where it will take the auto industry in the years ahead.
The program begins at noon in the 3 West Club, 3 West 51st Street, New York. Tickets for members are $35 apiece; $45 for others.