The following was posted to The Hill's Congress Blog on Oct. 24, 2011. SMU economist Bernard Weinstein contributed this story.
November 1, 2011
By Bernard L. Weinstein, associate director of the Maguire Energy Institute and an adjunct professor of business economics in the Cox School of Business at Southern Methodist University
The U.S. Environmental Protection Agency (EPA) has proposed two new air quality rules that pose substantial threats to both employment and the competitiveness of U.S. manufacturers. The first is the Cross-State Air Pollution Rule (CSAPR) that would cap key emissions crossing state lines and the second is the Utility Maximum Achievable Control Technology Rule (MACT) that would set absolute limits in mercury and other chemical emissions. As designed, the Utility MACT would be the most expensive direct rule in EPA history. Indeed, the EPA itself has estimated it would impose costs of about $11 billion a year on the U.S. economy, though third-party estimates of compliance costs are considerably higher....