The point wasn't necessarily to "save" money/oil with the first wave of "converted vehicles" but to create a push towards having more gas-saving vehicles on the road. Hopefully, this would eventually help lead to more independence from foreign oil.
Now whether or not that could be implemented through CAFE standards over time more efficiently is an arguable point.
Enlighten me, please. Cause I hear this argument often but never have benefited from seeing actual, tangible numbers. I'm not being a dick here, I'm actually curious. Also, we are seeing some headway in the battle for more efficient battery based systems, some of which in the near future, should make todays charge/usage ratios seem mundane.