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Self-Bonding in an Era of Coal Bankruptcy
Recommendations for Reform
Federal law requires coal companies to reclaim and restore land and water resources that have been degraded by mining. But at many sites, reclamation occurs slowly, if it all. Mining companies are required to post performance bonds to ensure the successful completion of reclamation efforts should they become insolvent, but regulators have discretion to accept “self-bonds,” which allow many companies to operate without posting any surety or collateral. As the coal industry experiences financial distress and coal companies declare bankruptcy, the viability of future reclamation work is endangered. This report offers recommendations to help regulators better assess coal companies’ financial health and take steps to curtail self-bonding.
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Next Steps to Reform the Regulations Governing Offshore Oil and Gas Planning and Leasing
Published in the Alaska Law Review
In this article, we argue that fundamental reform is necessary and highlight a series of key themes and topics that must be addressed to improve the regulatory process and promote better, more consistent management outcomes. While the article draws on examples from frontier areas-in particular the U.S. Arctic Ocean-the recommended changes would apply to and benefit all areas of the OCS.
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Priorities for Federal Coal Reform
Twelve Policy and Procedural Goals for the Programmatic Review
This report highlights twelve policy and procedural recommendations for the review of the federal coal program. These reforms are intended to help modernize program and so that it can provide maximum net benefits to American taxpayers. The programmatic review should identify opportunities to increase revenue, reduce greenhouse gas emissions, and align federal land management with U.S. climate change goals, paying enormous dividends to the public.
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Legal Pathways to Reducing Greenhouse Gas Emissions Under Section 115 of the Clean Air Act
The most efficient legal tool for addressing U.S. climate pollution can likely be found in an unused provision of the Clean Air Act. Section 115 of the Act, titled “International Air Pollution,” authorizes the EPA to develop and implement an economy-wide, market-based program to reduce domestic greenhouse gas emissions. This article, jointly authored by a team of law professors and attorneys at three of the country’s leading institutes focused on climate change and environmental law, offers an in-depth analysis of Section 115, which would provide the most flexible approach for achieving the targets from the Paris climate agreement.
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The Bureau of Land Management’s Modeling Choice for the Federal Coal Programmatic Review
There are multiple power sector models available to the Department of Interior (DOI)’s Bureau of Land Management (BLM) for analyzing the effect of current and alternative coal regulations and leasing policies during preparation of its programmatic environmental impact statement (PEIS). This document lays out model selection criteria to assist BLM in weighing the benefits and costs of these available models, and offers recommendations for model selection, highlighting the tradeoff between model complexity and transparency.
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The Turn Toward Toxins
An Essay Review
A growing number of historians have begun to turn their attention to crucial transitions in the ‘chemical age’ of the 20th century in order to understand both how ‘invisible’ chemicals endangered the environment and public health as well as how science and technology mediated perceptions of this danger. Several important new works have demonstrated the need for scholarship not only on the environmental and health effects of pollutants, but also on how institutions and governments began to care about such changes and define them positively or negatively.
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Understanding the Stay
Implications of the Supreme Court’s Stay of the Clean Power Plan
Since the Supreme Court stayed EPA’s Clean Power Plan, which regulates carbon dioxide emissions from existing fossil fuel-fired power plants, opponents of the plan have been making unfounded assertions about the consequences of the stay. This policy brief aims to clarify the stay’s implications for EPA’s implementation work and the plan’s future compliance deadlines.
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Handbook of Regulatory Impact Assessment
Jason Schwartz, legal director at the Institute for Policy Integrity, authored a chapter in the new Handbook of Regulatory Impact Assessment. Schwartz’s chapter explores the varied applications and approaches to cost-benefit analysis in the context of regulatory impact assessment.
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Balancing on the Grid Edge
Regulating for Economic Efficiency in the Wake of FERC v. EPSA
This new article from senior attorney Denise Grab is featured in a special edition of the Harvard Environmental Law Journal that focuses on the Supreme Court’s FERC v. EPSA case.
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Cost-Benefit Analysis and the Structure of the Administrative State
The Case of Financial Services
The viability and desirability of conducting cost-benefit analysis of financial regulation is a subject of intense academic debate. Opponents claim that such analysis is feasible for environmental regulation but not for financial regulation because of the difference in the benefits that require monetization in the respective areas. This article, which will be published in a forthcoming edition of the Yale Journal on Regulation, argues that the recent debate misses an important part of the problem. In large part, cost-benefit analysis of financial regulation cannot currently be performed successfully because of institutional shortcomings, not analytical difficulties. Compared to Executive Branch agencies, independent agencies, like the major financial regulatory agencies, lack the capacity to do cost-benefit analyses of acceptable quality. Fortunately, there are good Executive Branch models that could be exported to the financial regulatory agencies.
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