The 26th richest man in the world doesn’t like the thought of alternative fuels. Saudi Prince Al-Waleed Bin Talal said in an interview with CNN that he hopes that lower fuel prices will prevent America (along with other countries) from moving forward with alternative fuel vehicles.
Automaker’s fleet must reach an average of 35 MPG by 2016. The Obama Administration wants to raise that from 35 to anywhere from 47 to 62 MPG by 2025. Plus they are pushing the automakers to develop all electric cars. Nissan released the Leaf this year and Ford will offer an all-electric version of the Focus by the end of this year.
Bin Talal said he would like to see a barrel of oil between $70-$80 instead of the current price of over $100.
