Marcy Wheeler, writing at FireDogLake, provides the best description of the new Fuel Efficiency Standards for cars and trucks going forward, as presented by the Administration.   Here's the core agreement:  "Everyone (the companies, the states that wanted higher standards, and the EPA) agrees to one nationwide standard that will be in effect through 2016. And in exchange, CA will drop its push for its own state standards and the standards will be slightly postponed (though the outcome by 2016 will be roughly the same)."

The new standards "are not one number across the entire fleet (something which forces companies to sell cheap efficient cars that their dealers don't want). Rather, the standard has an overall fleet average (35.5 MPG by 2016), with segment MPG limits (as a guess, small cars like the Fiesta and the Fit will be expected to make 40 MPG or more), along with a specific target for each manufacturer.  Which will, overall, get us to 35.5."

The cost of cars will go up an average of $600 per vehicle, on top of another $700 increase for previous CAFE requirements yet to be implemented. 

There is still a lot to be worked out but here are a few stats:

• 5% per year increase in fuel efficiency
• An increase form 25 MPG fleet average to 35.5 MPR fleet average
• 1.8 billion barrels of oil saved
• A reduction of 900 million metric tons of carbon dioxide in the atmosphere
• The equivalent of 177 million cars off the road--or 194 coal plants shut down

Good deal.