In the News

Looking at three proceedings, completed within weeks of one another, exposes the shameless analytic opportunism of the Trump EPA. The result is a slate of deregulatory actions that put thousands of lives at risk each year, cause serious adverse health impacts on many more, and impose net harms on the American people. A heedless commitment to dangerous deregulation is the only logic that explains its actions.

Senate Republicans are worried that BlackRock could take climate change–related financial risks into account in making its securities purchase recommendations, as the firm has pledged to do when shaping its own investment strategies. If BlackRock is going to make the best decisions for American taxpayers, it must be allowed to assess these climate risks as it does for other clients.

While states are right that new FERC rules will needlessly increase costs and be a drag on clean energy, they shouldn’t rush to exit electricity markets yet. States could meet their climate goals while retaining the benefits of markets by pursuing another option: carbon pricing.

The Trump administration’s recent rollback of Clean Car Standards relies on a significant number of obvious analytical flaws and provides a textbook example of the type of “arbitrary and capricious” conduct prohibited by the Administrative Procedure Act.

“Accepting the administration’s own numbers—and some of them are highly suspect, and most are just wrong, but accepting the numbers upfront—the rule is net costly,” Richard Revesz, the Lawrence King Professor of Law at NYU, told me. He is director of the university’s Institute for Policy Integrity. “This rule is actually causing deaths, even under their analysis.”

The Trump administration significantly weakened the most important existing regulation limiting planet-warming greenhouse gas emissions: the “Clean Car Standards,” which were also set to save consumers billions of dollars by making new cars and trucks use less fuel. If the administration’s track record is any indication, the courts are likely to see through the manipulation involved. But in the meantime, the end result will be substantial economic, climate, and public health harms.

“The rollback of the vehicle emissions standards is based on analysis that is shoddy even by the shockingly unprofessional standards of Trump-era deregulation,” said Richard Revesz of the Institute for Policy Integrity and dean emeritus at New York University School of Law.

With an election looming, the urgency of completing regulations is real. Under the Congressional Review Act, Congress can overturn a regulation or federal rule within 60 days of it being finalized. If Democrats win control of the White House and Senate in November, and keep control of the House, any rule completed after late May or early June would be vulnerable. “The administration understands the electoral map has turned against it,” said Richard Revesz, a professor of environmental law at New York University.

Tax credits for companies that “capture” carbon dioxide have been a success, by some measures. Even before the expansion, companies have claimed hundreds of millions of dollars in tax credits—possibly as much as $1.3 billion—and reported 63 million tons of carbon dioxide kept out of the air. There’s one big problem, though. All of that carbon is supposed to be stored securely underground and monitored by an Environmental Protection Agency program, to be sure it doesn’t leak out or create other complications. But so far, only 17 million of those 63 million tons have been registered with the EPA as legally required—about one-quarter of the carbon that companies have taken credit for.

“You didn’t have the A team doing the analysis here… If you shut out the people who know what they’re doing, this is what you get,” Jack Lienke, a law professor at NYU and the regulatory-policy director at the Institute for Policy Integrity, told me. “If the experts—who are actually within the agency issuing this proposal—thought that the assumptions being made were unreasonable, that makes a judge a lot more comfortable saying it is arbitrary and capricious.”