Driving the news: The EPA has announced plans to scrap tailpipe emission standards that aimed for half of new U.S. cars to be electric or hybrid by 2030.
For context: In 2009, the EPA determined that greenhouse gases emitted from cars are a form of air pollution that falls under its jurisdiction via the Clean Air Act.
That rule, called the "endangerment finding," included tougher vehicle emissions standards.
EPA Administrator Lee Zeldin made the announcement at an Indiana truck dealership, saying the agency heard that emissions standards were "the real threat to Americans' livelihoods."
Why it matters: This marks a complete about-face from 15+ years of climate policy and hands a big win to oil companies and biofuel manufacturers who've been fighting vehicle emissions rules. For environmental advocates though, the news is a big blow.
What we're watching: The public comment period and lawsuits that are almost certain to follow. While automakers can't instantly change their vehicle plans, this policy shift could completely reshape the industry's electric vehicle strategies and where they put their investment dollars.
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