EPA: New CO2 Limits Will Help Economy

    Steam rises from the stakes of the coal-fired Jim Bridger Power Plant supplied by the neighboring Jim Bridger mine that is owned by energy firm PacifiCorp and the Idaho Power Company, outside Point of the Rocks, Wyoming  March 14, 2014. West Virginia mined 120 million tons (109 metric tons) of coal in 2012, second to Wyoming, or about 12 percent of total U.S. production. Kentucky was third with about 9 percent of output, according to the National Mining Association.  REUTERS/Jim Urquhart  (UNITED STATES - Tags: ENERGY BUSINESS) - RTR3H5NS

    Jim Urquhart/Reuters

    The Environmental Protection Agency unveiled proposed regulations Monday aimed at cutting carbon pollution from coal power plants, which it said will help the U.S. economy. The rules aim to shrink emissions by 30 percent (from 2005) levels by 2030. EPA Administrator Gina McCarthy said the new rules will spur “ingenuity and innovation,” despite costing $8 billion annually, because it will lead to as much as $93 billion in economic benefits. Critics say it will drive up electricity costs, while the EPA forecasts falling electricity prices. McCarthy stressed states will be given a wide range of options to achieve the emission decreases. “That’s what makes it ambitious, but achievable,” she said. “The glue that holds this plan together—and the key to making it work—is that each state’s goal is tailored to its own circumstances, and states have the flexibility to reach their goal in whatever way works best for them.” 

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