EPA: New CO2 Limits Will Help Economy

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.”