Obama Burns Gas Drillers On Ozone.
Is Your City A Slum?
638855264.html?mod=googlenews_wsj
It is amusing that Washington, of all places, gets to regulate
emissions of hot air. But natural-gas producers aren't laughing.
The White House's climb-down on tightening rules for levels of
smog-forming ozone, announced Friday, came the same day as
dreadful August jobs data. The president is caught between the
demands of environmentalists and a struggling economy, where any
regulation can be framed as "job killing."
The big question is whether Friday's cave on ozone portends a
scaling back of the Environmental Protection Agency's plans for
other emissions.
New EPA rules curbing emissions of airborne nasties like mercury
could force the closure of 54 gigawatts, or 16%, of U.S. coal-
fired electricity generating capacity, according to Sanford C.
Bernstein. Gas producers need this in order to boost demand for
their fuel in an oversupplied market.
The prevailing view is that, despite coming House votes aimed at
derailing tighter EPA standards, the White House and Senate
provide solid support. But Friday's announcement suggests
economic malaise is eroding that.
Republicans will be encouraged to press for more concessions,
perhaps through anti-EPA riders on spending bills. They will be
aided by a report this week from the grid operator in—where
else?—Texas warning that EPA-inspired plant closures could lead
to rolling blackouts there.
Against this, the president must still consider his base, and
even arch-partisans across the aisle will find defending mercury
a tough sell. One political concession doesn't a trend make. But
gas producers were struggling already with demand-damping
effects of high unemployment. The latter now also serves to
throw into doubt the environmental program they hoped would ride
to their rescue.
Rich Grise
> http://online.wsj.com/article/SB10001424053111904583204576546811
> 638855264.html?mod=googlenews_wsj
>
> It is amusing that Washington, of all places, gets to regulate
> emissions of hot air. But natural-gas producers aren't laughing.
>
Are they resurrecting that damned Ozone Hoax again?
Sheesh!
Rich