The potential benefits are large and greatly exceed the expected costs of improved fuel economy. Cutting global average automotive fuel consumption (L/100 km) by 50% (. doubling MPG) would reduce emis- sions of CO2 by over 1 gigatonne (Gt) a year by 2025 and over 2 gigatonnes (Gt) by 2050, and result in savings in annual oil import bills alone worth over USD 300 billion in 2025 and 600 billion in 2050 (based on an oil price of USD 100/bbl). The Initiative proposes several steps and actions to work towards the 50:50 overall goal and each step will achieve some of.
