Gartman: The EPA Is About To Wreak Havoc Upon Businesses

Analyst Dennis Gartman has goes on a huge tirade against the EPA and its crusade to appropriate new sanctions against companies without Congressional approval:

The Gartman Letter: The EPA has taken it upon itself to call greenhouse gases “endangering” to American health and having seen that Congress is unwilling to act has taken it upon itself to do so. According to The White House Bulletin, the EPA’s Administrator, Ms. Lisa Jackson, has decided unilaterally that greenhouse gases are detrimental and if Congress won’t act, then she will.

One of the more radical of the eco-Left, Mr. Emily Figdor, said yesterday that Ms. Jackson’s decision is “the most significant step the federal government has taken on global warming [and] the stage is now set for EPA to hold the biggest global warming polluters accountable.”

According to Ms. Jackson, the EPA now has unilateral authority to act, including setting new carbon emissions standards for power plants, factories and cars, even if Congress fails to pass a climate bill. As we understand the law… and we are open to being told we are wrong on this issue, for we are not lawyers here at TGL… the EPA can effectively close a factory if it believes the factory in question is producing “greenhouse gases” in excess of what the Agency believes to be safe and/or it can impose fines sufficiently large to effectively close the plant in question.

The EPA acting like a tyrant? Sounds scarier than global warming.

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