What effect will President Obama's climate-change rules have on the nation's economy, energy mix, and environment?
Last week, the Environmental Protection Agency proposed first-ever rules that will control power-plant emissions of greenhouse-gas emissions that most scientists agree is the chief cause of climate change. The rules require all new fossil-fuel power plants to meet a standard based on an efficient natural-gas plant. EPA faces court orders to propose rules for existing plants as well for greenhouse-gas emissions of oil and natural-gas refineries.
Did EPA strike the right balance in proposing these rules? What, if anything, should Congress do in reaction to these rules? What other factors should the agency consider as it moves forward with the other climate-change rule-makings that it will address?