Oil Markets, Regulatory Wisdom And Policy Vision

on March 20, 2015 at 2:00 PM

Markets Rise On Economic Data

Industries Are Critical of Proposed Stricter Ozone Standards

The Hill: Business groups are waging war on the Obama administration’s proposal to reduce ozone pollution, arguing the regulations would cripple the U.S. economy.

In order to comply with the proposed rule, many areas of the country would have to all but shut down land development and oil and natural gas drilling, industry groups charged on the final day for comments.

The Environmental Protection Agency (EPA) is being spurred on by greens and health groups, who argue that lower ozone emissions would benefit public health. The agency, they contend, is obligated to adopt the stricter standards.

But the rules would translate to higher electric bills for American families, the American Coalition for Clean Coal Electricity is said in comments it filed Tuesday.

“At the same time, declining real household incomes coupled with increasing energy costs are harming the 60 million American families with low and middle incomes.”

The American Petroleum Institute (API) said it is too soon to change the standard of 75 parts per billion, the current standard set in 2008. The EPA is proposing a cut to between 65 and 70 ppb, but many states and localities have not yet begun to implement the 2008 regulation, the group notes. …

… In a joint statement, the American Wood Council and the American Forest and Paper Association argued that the regulation would hurt them too.

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By Mark Green

Originally posted March 18, 2015

Energy Tomorrow is brought to you by the American Petroleum Institute (API), which is the only national trade association that represents all aspects of America’s oil and natural gas industry. Our more than 500 corporate members, from the largest major oil company to the smallest of independents, come from all segments of the industry. They are producers, refiners, suppliers, pipeline operators and marine transporters, as well as service and supply companies that support all segments of the industry.