John on January 3, 2011 at 8:17 am
Famous last words on what to expect as the EPA begins regulating all new energy facilities:
The immediate effect on utilities, refiners and major manufacturers will be small, with the new rules applying only to those planning to build large new facilities or make major modifications to existing plants. The environmental agency estimates that only 400 such facilities will be affected in each of the first few years of the program. Over the next decade, however, the agency plans to regulate virtually all sources of greenhouse gases, imposing efficiency and emissions requirements on nearly every industry and every region.
If you want to know what regulation feels like, well it feels a lot like the worst recession since the 1930s:
Carbon dioxide emissions from the energy sector, by far the largest source of total emissions, fell to about 5.4 billion metric tons in 2009, down from 5.8 billion metric tons the year before, and they are likely to fall even further this year. Demand for electricity in 2009 fell by the largest amount in six decades and is almost certain to slip further in 2010.
Do you think Obama wants 5% unemployment or decreased CO2 emissions more? It’s going to be one or the other.
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