The EPA has officially declared that CO2 is endangering the public’s health and welfare. This means that there will be new pressure on businesses to cut their emissions.
It also sets the stage for cap and trade legislation:
WSJ: A finding that CO2 is a threat to public health and welfare also would ratchet up pressure on Congress to enact a system that caps greenhouse gases and creates a market for businesses to buy and sell the right to emit them, as President Barack Obama has proposed.
Earlier this month, the EPA proposed a national system for reporting carbon dioxide and other greenhouse-gas emissions by major emitters. The EPA has said about 13,000 facilities, accounting for about 85% to 90% of greenhouse gases emitted in the U.S., would be covered under the proposal.
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