In his convention victory speech Obama read the following words from his teleprompter:

“… I am absolutely certain that generations from now, we will be able to look back and tell our children that this was the moment when we began to provide care for the sick and good jobs to the jobless; this was the moment when the rise of the oceans began to slow and our planet began to heal;”

The new CAFE standards are going to reduce CO2 emissions, slow global warming and slow the rising of the oceans. Just how much impact will the new standards have on global warming and ocean levels? Instapundit linkee KEITH HENNESSEY does the math, based on MAGICC computer model projections. His conclusion:

Both options [Bush’s and Obama’s] would reduce the global mean surface temperature by one-thousandth of one degree Celsius by 2030. The Obama option would reduce the global temperature by seven thousandths of a degree Celsius by the end of this century.

The effects on sea level are too small to measure by 2030. By 2100, the Obama proposal (technically, the TC=TB proxy) would reduce the sea-level rise by six hundredths of a centimeter. That’s 0.6 millimeters.

In American, 0.6 mm is 0.0236 inches. What is the cost of the new CAFE standards? According to Keith Hennessey:

NHTSA estimated that a similar option [to Obama’s] would cost almost 150,000 U.S. auto manufacturing jobs over five years.

Do the new owners of GM and Chrysler realize this? Consumers would pay as much as $1,300 extra for vehicles that meet the Obama’s proposed standards. The extra costs come from more expensive technology (hybrids, diesel engines, dual clutch gear boxes, lighter materials). Further costs would come from additional safety gear to compensate for the loss of vehicle mass.

Obama claims consumers will save $2,800 over the life of the vehicle. This figure seems to be based on a vehicle life of 10 years, an annual mileage of 15,000, and gas priced at $2.00 per gallon. If gas prices double, the savings double.

In-sourced manufacturers, such as Toyota, Honda, Nissan and VW, are in a much better position to meet the standard than GM or Chrysler. Ford actually has a good hybrid on the road, so it is in a better position than the bankupt 2. The Japanese manufactuers have viable hybrid technology and small cars, while VW has very efficient diesels and dual clutch gear boxes.

I’m beginning to think Obama is more interested in destroying the domestic auto industry rather than running it. At least that is what his policies and proposals indicate.