On March 29, the Environmental Protection Agency (EPA) released its Tier 3 notice of proposed rulemaking, reducing air pollution from passenger cars and trucks. The proposed rule includes limiting tailpipe and evaporative emissions, to be phased-in between model years 2017 and 2035, and lowering gasoline sulfur standards, to involve an average, banking, and trading (ABT) program to help refiners spread out their investments through an early credit program.