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S. Korea Implements Energy Efficiency Program
The South Korean government has earmarked US$14.2 billion for an energy efficiency initiative that will proceed until 2012 and save 34.2 million tonnes of oil equivalent (toe). The goal is an 11.3% increase in energy efficiency by 2012, compared with the energy efficiency level in 2007.
One of the strategies is a 16.5% increase in new vehicle average fuel economy by 2012.
In 2004, South Korea exchanged its voluntary system with a mandatory program—the Average Fuel Economy (AFE) system. This mandatory system started in 2006 for domestic vehicles and will start in 2009 for imports.
The current standards are 29.2 mpg US for vehicles with engine displacements of 1.5 liters or less and 9.6 22.6 mpg US for vehicles with engine displacements of more than 1.5 liters. Credits can be earned to offset shortfalls.
Why can't America implement a program like that?
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