Part one of term paper
The foreshadowed Market Failures of the mid 1970's gave way to Corporate Average Fuel Economy, regulation which would call for new standards in automobile fuel efficiency. The market failures hinged on a number of outside variables which could have had a drastic effect on domestic markets. Resource Scarcity drove the American public to ca ...

Part two of term paper
... Fuel Economy in place the market failures should be partially alleviated and pressures due to restricted international resources should subside. The regulated fuel efficiency should allow the market to resume its national flow and regain stability without further manipulation. Reliance on imported fuels would be minimized because of the a) decreased demand for fuel consumption and b) lowered fuel demand allowed for domestic producers to meet the basic needs of the public. Maximum fuel efficien ...