Tuesday, April 25, 2023It has been publicly reported that the Biden Administration's EPA will shortly "announce limits on greenhouse gas emissions from power plants that could compel them to capture the pollution from their smokestacks." In effect, this proposed regulation would probably encourage the widespread adoption of carbon-capture technology, which is only in limited use as yet. It is also likely that this proposed regulation would encourage the use of more environmentally-friendly fuel sources by power plants--e.g., the transition away natural gas to green hydrogen or other alternatives. This proposal reflects the broader environmentally-friendly agenda pursued by the Biden Administration, which, despite certain actions--e.g., the recent approval of a controversial drilling project in Alaska's North Slope--has generally engaged in a number of actions, legislation, and administrative initiatives designed to foster a more green-focused economy (e.g., the Inflation Reduction Act). Each individual action by the Biden Administration should be evaluated in that light, rather than considered separately and independently.

Source: New York Times April 25, 2023 19:54 UTC