Beginning of Essay
The foreshadowed Market Failures of the mid 1970's gave way to Corporate Average Fuel Economy, regulation which would call for new standards in automobile fuel efficiency. The market failures hinged on a number of outside variables which could have had a drastic ....

Middle of Essay
.... for fuel consumption and b) lowered fuel demand allowed for domestic producers to meet the basic needs of the public. Maximum fuel efficiency would a) cut the amount of fuel consumption thus nullifying high pump prices and b) raise the level of conservation by lowering the amount consumed. Although the intentions of Corporate Average Fuel Economy in the 1970's was thought to be a cure-all but, over the long run it has turned out to be a flop. The variables on which it was based, turned out to be almost exactly opposite. Lower Gas Prices have a) caused the public to simply use more fuel, b) drive more frequently due to less fuel consumption a ....