Rolling Back Obama EPA Rule Could Save $33 Billion

Reversing an Obama administration energy regulation will save energy companies $33 billion in compliance costs through 2030—costs that would have otherwise been borne by consumers, senior Trump administration officials said in providing details about scrapping the plan. The Environmental Protection Agency on Tuesday proposed to repeal the Clean Power Plan, placing the proposed repeal in the Federal Register and giving stakeholders 60 days to submit public comment. The Obama administration’s Clean Power Plan aimed to reduce carbon emissions by one-third by 2030. However, it ran into multiple lawsuits from more than 150 entities, including 27 states, 24 trade associations, 37 rural electric cooperatives, and three labor unions, according to the EPA. On top of that, 34 senators and 171 House members filed an amicus briefing arguing the Clean Power Plan was illegal. On Feb. 9, 2016, the Supreme Court halted the implementation of the program...more