Corporate Average Fuel Economy The foreshadowed Market Failures of the mid 1970's gave way to Corporate Average Fuel Economy, regulation which would call for new standards in automobile fuel efficiency. The market failures hinged on a number of outside variables which could have had a drastic effect on domestic markets. Resource Scarcity drove the American public to call for a more efficient means of managing its resource use due to a) oil embargos on nondomestic products and b) skyhigh prices at the pump. Conservation of the world's non-renewable resources cams to the foreground with a) higher pump prices and b) forecasted resource expenditure before the year 2000. With Corporate Average Fuel Economy in place the market failures should be partially alleviated and pressures due to restricted international resources should subside. The regulated fuel efficie....

Number Of Pages: 3

Number Of Words: 669

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