Low Cost Regulations

As the Environmental Protection Agency prepares to announce new rules to reduce carbon emissions, the U.S. Chamber of Commerce has released a report concluding that the regulations would only cost $50 billion per year--less than one percent of the $17 trillion economy.  Litigation is expected to contest these cost-effective measures.

Update (June 2):  The EPA announced the new rules for existing power plants.  Carbon dioxide emissions need to be cut to 30 percent below 2005 levels by 2030.  States will have several options for achieving the reductions.  It's rare for a Presidential administration to place the long-term well being of humanity above short-term political interests.

Update (June 7):  Paul Krugman disputes Republican criticism of the EPA rules.

Update (June 9):  Robert Samuelson claims that the EPA regulations will only have a moderate impact--both economically and ecologically.

Update (June 16):  Dahr Jamail explains why the new regulations are too little, too late.

Update (July 3):  And the lawsuits begin.

Update (July 29):  A report from the White House Council of Economic Advisers determines that the cost of delaying action on climate change will continue to grow.