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This is John Batchel, conversation with colleague Julia Cartwright of the American Institute

for Economic Research, commenting on rent extraction using the example of cafe standards of these

last years. The car companies responding to regulatory guidance from the federal government and what about

the consumer?

Here's Julia to explain.

More of this tonight.

So rent extraction is, you can think of it as politicians threatening costly action towards businesses if they're

not within compliance. And I'll give three examples, one from each of the three past administrations.

So the Obama administration, in their effort to curb carbon emissions, instit what's called CAFE standards. And this is

corporate average fuel economy standards. And you may have remembered that in the aftermath of the

cafe standards, many more car companies were creating hybrid or electric cars that didn't necessarily

see a lot of consumer demand. These various car companies had to create a fleet that

corresponded with these cafe standards. So they were artificially providing the market with both hybrid and electric vehicles that were not

necessarily demanded by the market. And we are seeing this in 2025, probably more than ever,

especially with a lot of the sunset of some of these electric vehicle subsidies. So Cafe

...