Cap and Trade May be Dead, But Bad Energy Policy Isn’t
Nicolas Loris /
With the election of Scott Brown and Senator Byron Dorgan’s recent comment that “it is unlikely that the Senate will turn next to a very complicated and very controversial subject of cap-and-trade, climate legislation,” the prospects for CO2 legislation are looking quite grim. But before American energy consumers can break out the champagne glasses, there are still economically threatening policies coming from the administration and Congress.
Just because carbon dioxide reductions won’t be passed by elected officials doesn’t mean unelected ones can’t do it. The Environmental Protection Agency (EPA) is moving forward with its own set of global warming regulations. The EPA’s endangerment finding, which took effect last week, gives the EPA authority under the Clean Air Act (CAA) to regulate greenhouse gases (GHGs).