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New Carbon Emissions And Mileage Standards

President Obama announced a plan to combat climate change and reduce reliance on imported oil. By 2016, new vehicles will be must average 35.5 miles per gallon.

The fuel-efficient cars will be more expensive, but Obama believes they will pay off after 3 years of ownership. Dan Neil, automotive critic for the Los Angeles Times, weighs in on what the announcement means for automakers and car owners.

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