TABLE 3.

Costs and benefits of 2012-16 CAFE standards, 3% discount rate ($2007 millions).

MY 2012MY 2013MY 2014MY 2015MY 2016Sum 2012−2016
Private costs and benefits (costs shown as negative benefit)
Technology−5,902−7,890−10,512−12,539−14,903−51,748
Lifetime fuel expenditures9,26420,17829,08237,70046,824143,048
Consumer surplus from additional driving6961,5042,1512,7543,38710,492
Refueling time value7071,3831,9392,4642,9509,443
 Net private benefits4,76515,17522,66030,37938,258111,235
Social costs and benefit (costs shown as negative benefit)
Congestion−447−902−1,282−1,634−2,000−6,265
Accidents−217−430−614−778−950−2,989
Noise−9−17−25−32−39−122
GHG reductions9212,0252,9403,8404,80414,530
Petroleum market externalities5461,1531,6302,0792,5437,951
Conventional air pollutants4759471,3101,6461,9916,369
 Net social benefits1,2692,7763,9595,1216,34919,474
Net total benefits6,03317,95026,61935,50144,606130,709
Addendum: Net benefits at 7%3,58712,79219,23025,99832,88894,495

Source: Final Regulatory Impact Analysis: Corporate Average Fuel Economy for MY 2012-MY 2016 Passenger Cars and Light Trucks, 14, Table 12.