illuminem summarizes for you the essential news of the day. Read the full piece on Reuters or enjoy below:

🗞️ Driving the news: U.S. oil and corn industry lobby groups are suing the Biden administration over new tailpipe emissions rules, arguing they will cause economic harm
• The regulations aim to cut 1 billion tons of greenhouse gas emissions from vehicles released between 2027 and 2032

🔭 The context: The EPA's rules mandate significant reductions in emissions from heavy-duty vehicles and require that up to 56% of car sales be electric between 2030 and 2032
• Industry groups claim these rules prioritize electric vehicles over biofuels like corn ethanol

🌍 Why it matters for the planet: Transportation accounts for over a quarter of U.S. greenhouse gas emissions, making these regulations a key part of Biden's plan to decarbonize the U.S. by mid-century

⏭️ What's next: Legal battles are expected as both the oil and ethanol industries challenge the EPA's authority and the feasibility of the regulations
• The EPA has yet to respond to these lawsuits

💬 One quote: “EPA has tried to impose a one-size-fits-all approach to addressing climate change by prioritizing electric vehicles over other climate remedies like corn ethanol,” said National Corn Growers Association President Harold Wolle

📈 One stat: The regulations project that up to 56% of all car sales will be electric between 2030 and 2032

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