This is a historic week for U.S. consumers and for the future of our nation's costly oil use, says the Union of Concerned Scientists.

The Obama administration just finalized fuel economy and global warming emissions standards for cars and light trucks sold in model years 2017-2025, which will roughly double the fuel efficiency of these vehicles.

The standards will save drivers of a new 2025 vehicle nearly $8,000 over its lifetime, compared to driving a typical vehicle on the road today. In addition, the standards will reduce global warming emissions by as much as 270 million metric tons in 2030—the equivalent of shutting down 65 coal-fired power plants for one year.

These standards represent the biggest single step our country can take to reduce oil use, cutting consumption by 1.5 million barrels a day in 2030 and putting us on the path towards halving our projected oil use over the next 20 years.

Much work remains to get to this ambitious goal, and we will no doubt have to protect this hard-fought victory. But today we celebrate, and say thank you.