Too late?

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35.5 MPG By 2016

The Obama administration set tougher gas mileage standards for new cars and trucks Thursday, spurring the next generation of fuel-sipping gas-electric hybrids, efficient engines and electric cars.
The heads of the Transportation Department and the Environmental Protection Agency signed final rules setting fuel efficiency standards for model years 2012-2016, with a goal of achieving by 2016 the equivalent of 35.5 miles per gallon combined for cars and trucks, an increase of nearly 10 mpg over current standards set by the National Highway Traffic Safety Administration.


In addition to the fuel economy standards, a minimum for the amount of CO2 a car's tailpipe can emit has been adopted as well: it'll be 250 grams per mile by 2016.
These standards mark a pretty significant jump forward, and send a clear signal that fuel efficiency had better play a major role in automakers' model designs going forward. And instead of resent the standards, the auto industry is glad that such a clear signal is being sent:

With Peak Oil - too late?