A new study by the Union of Concerned Scientists finds:

Increasing the average fuel economy of America’s new autos to 35 miles per gallon (mpg) by 2018 would save consumers $61 billion at the gas pump and increase U.S. employment by 241,000 jobs in the year 2020, including 23,900 in the auto industry …

The study is available here.

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According to the analysis, nearly $24 billion of the gasoline savings would become new revenue for automakers in 2020–paying for the improved technologies plus some profit …

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[P]utting fuel economy technology to work would also cut our oil addiction by 1.6 million barrels per day and reduce global warming pollution by more than 260 million metric tons, akin to taking nearly 40 million of today’s average cars and trucks off the road in 2020.

This post was created for ClimateProgress.org, a project of the Center for American Progress Action Fund.