Mike Kennedy: “The bill ends civil penalties under the punitive CAFE…”

“In addition, it does away with compulsory depreciation in many cases permitting us to make capital purchases and write them off immediately. The bill ends civil penalties under the punitive CAFE standards, effectively halting enforcement when the cost of hauling goes down. Not only does the price of the pump for the consumer go down, but but producers headaches over market volatility go down as well.” (07:57–08:05)

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.