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This work by Payam Minoofar is licensed under a Creative Commons Attribution-No Derivative Works 3.0 United States License. Please cite http://payam.minoofar.com/
It’s no joke. According to Chemical and Engineering news, a draft report by the White House claims that EPA air pollution regulations have generated between $94 billion and $449 billion in economic benefits. The economic cost of the regulations was between $44 and $47 billion annually. So, it’s a break even affair.
One rule, however, is truly profitable. The one that limits emissions by coal fired plants in 28 states and D.C. costs $1.8 billion and has benefits of over $50 billion annually.
So, is it any wonder that so many states are suing the Bush EPA for wanting to relax these rules?
[...] the upgrades might reduce the profit margins of these companies from 10% to 8%. The fact that cleaner air will save billions of dollars to the aggregate economy is no matter. Industry is sacrificing the national economy for a measly 2% margin of [...]