The head of the Environmental Protection Agency (EPA) in April quietly dropped a bombshell on business – carbon dioxide will soon be declared a dangerous pollutant.
In a move that could have momentous implications for environmental and energy policy, EPA Administrator Lisa Jackson recently told reporters that a formal “endangerment finding,” triggering federal regulations on greenhouse gas emissions, would probably “happen in the next months.” (SF Chronicle 9/1)
EPA Administrator Lisa Jackson
According to EPA scientists, greenhouse gases contribute to global warming by trapping heat in the Earth’s atmosphere. By declaring CO2 a dangerous pollutant, the EPA would have the ability to weigh heavily on Congress to move ahead with climate legislation.
A formal endangerment finding would enable the agency to regulate greenhouse gas pollution under the Clean Air Act – even if Congress doesn’t pass a final climate change bill.
Energy industry leaders have acknowledged the need for CO2 regulation, but decried the current U.S. Climate Bill as a dramatic blow to the petroleum industry itself. Even so, they have largely favored Congressional action over EPA-imposed limits.
Valero Energy Corp. has said that the U.S. Climate Bill in its current form would cost the company $7 billion annually. The House of Representatives narrowly passed the bill in June.
“How would we be able to operate?” asked Jim Greenwood, vice president for governmental affairs at Valero, quoted in a recent news article. “I don’t know. If they can make some breakthroughs, especially with carbon capture and sequestration, you can halve carbon emissions.” (Reuters 8/28)
So, what’s the bottom line? Carbon legislation is coming, and it is, once again, imperative that American enterprise rise to meet the challenge of finding ways to maintain productivity and profitability while adapting to imminent energy policy.
