The Obama administration is expected to announce new national standards for car emissions and mileage today. The standards are expected to be comparable to the standards California sought, but were delayed by the Bush administration. Under the new standards, new cars and light trucks will have to get 35 miles per gallon by 2016. This will drive up the price of new cars, but drivers may recoup some of that money through savings on gas. Automakers aren't expected to challenge the new rules — but will the new standards help reduce demand for gas or change driver behavior? Joining The Takeaway to debate the new standards are Lisa Margonelli, fellow at the New America Foundation and author of Oil On the Brain: Petroleum's Long Strange Trip to Your Tank and Robert Farago, publisher of the blog The Truth About Cars.

Chrysler filed for Chapter 11 bankruptcy yesterday. It was the first major automaker since Studebaker in 1933 to attempt to restructure under bankruptcy. Three years later, Studebaker emerged from bankruptcy and managed to stay alive for a few more decades until 1966. Joining The Takeaway is Rebecca Lindland from Global Insight, a financial forecasting company; and Robert Farago, a blogger for The Truth About Cars.

General Motors Corp. sent the stock market lurching downward yesterday after its annual report expressed doubts about corporate viability. Could The Big Three go bankrupt? Critics such as The Truth About Cars blogger Robert Farago wonder if bailouts can save U.S. carmakers.