Freeways in Los Angeles. Photo: Ken Ross/VW PICS/UIG via Getty Images

The Global Fuel Economy Initiative (GFEI) report released via the International Energy Agency this week warned that the average fuel economy improvement rate for advanced countries slowed to only 0.2% per year between 2015 and 2017 — and "more than 20 countries experiencing a reversal in the evolution of their fuel economy."

Why it matters: It's nowhere near the GFEI target of 3.7% annual improvements in order to help control CO2 emissions.

The big picture: Worldwide, the average fuel economy improvement rate slowed to 1.4% per year between 2015 and 2017, although the gains in emerging economies were higher. IEA chief Fatih Birol, in a statement alongside the report, called the overall slowdown "cause for alarm."

  • "Improving vehicle fuel efficiency saves money, cuts carbon emissions while also reducing harmful air pollution and boosting energy security," he said.
  • There are several forces driving the trends, including the increase in consumers' appetite for SUVs and pickups.

Go deeper: IEA has a cool interactive tool to track vehicle sales, efficiency and other data across 18 major auto markets including that in the U.S.

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Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Americans feel Trump's sickness makes him harder to trustFlorida breaks record for in-person early voting — McConnell urges White House not to strike stimulus deal before election — Republican senators defend Fauci as Trump escalates attacks.
  2. Health: The next wave is gaining steam.
  3. Education: Schools haven't become hotspots — University of Michigan students ordered to shelter-in-place.
  4. World: Ireland moving back into lockdown — Argentina becomes 5th country to report 1 million infections.

Report: Goldman to settle DOJ probe into Malaysia's 1MDB for over $2B

Illustration: Lazaro Gamio/Axios

Goldman Sachs has agreed with the Department of Justice to pay over $2 billion for the bank's role in Malaysia's multi-billion dollar scandal at state fund 1MDB, Bloomberg first reported.

Why it matters: The settlement, expected to be announced within days, would allow Goldman Sachs to avoid a criminal conviction in the U.S. over the bribery and money laundering scandal that saw three of its former bankers banned for life from the banking industry by the Federal Reserve Board.

Trump threatens to post "60 Minutes" interview early after reportedly walking out

Trump speaks to reporters aboard Air Force One, Oct. 19. Photo: Mandel Ngan/AFP via Getty Images

President Trump tweeted on Tuesday that he was considering posting his interview with CBS' "60 Minutes" prior to airtime in order to show "what a FAKE and BIASED interview" it was, following reports that he abruptly ended the interview after 45 minutes of taping.

Why it matters: Trump has escalated his war on the media in the final stretch of his re-election campaign, calling a Reuters reporter a "criminal" this week for not reporting on corruption allegations about Hunter Biden and disparaging CNN as "dumb b*stards" for the network's ongoing coronavirus coverage.