The Environmental Protection Agency has announced new rules to curb carbon emissions, under the Clean Air Act. The program is called the Clean Power Program and aims to reduce emissions from coal-fired power plants by more than 30% within 20 years. It is the single most significant step toward reducing power plant greenhouse gas emissions ever taken by the US government.
Many environmental activists are celebrating; predictably, opponents of climate action are warning of grave economic costs. The real impact is less, and less immediate, than many suspect. If the targeted emissions are reduced by the target percentage, then overall US greenhouse gas emissions from industrial, household and transportation sources, will decline by roughly 10% over 20 years.
Continue reading “Build on EPA Rules with Revenue-neutral Carbon Price”