The U.S. Supreme Court has decided to uphold a regulation from the Biden administration that aims to limit pollution from coal-fired power plants. This ruling allows the Environmental Protection Agency (EPA) to enforce stricter emissions standards while legal challenges continue to unfold.
The regulation in question mandates that many coal-fired power plants must either capture 90% of their carbon emissions or cease operations within eight years. Although the compliance deadlines do not take effect until 2025, the ruling is crucial for the Biden administration's broader climate goals, which include eliminating carbon pollution from the electricity sector by 2035 and achieving economy-wide reductions by 2050.
This ruling marks the third time this month that the Supreme Court has allowed an environmental regulation to remain in effect. Earlier in the month, the court also upheld regulations aimed at reducing methane and mercury emissions. However, the conservative majority has previously limited the EPA's authority in other cases, raising concerns about the future of environmental regulations.
The EPA estimates that the new rule could yield up to $370 billion in climate and health benefits and prevent nearly 1.4 billion metric tons of carbon pollution by 2047. This is equivalent to removing 328 million gasoline-powered cars from the roads annually.
As the legal challenges continue, the ruling sets a precedent for how the EPA can regulate emissions from power plants. The court's decision reflects a balancing act between environmental protection and economic considerations, a theme that is likely to persist in future legal battles.
The Supreme Court's decision to uphold the EPA's pollution limits for coal-fired power plants is a pivotal moment in the ongoing struggle against climate change. As the nation grapples with the implications of this ruling, the focus will remain on how these regulations will be implemented and their impact on both the environment and the economy.
The CFTC is clarifying its futures extraterritoriality rules amid ongoing debates about cryptocurrency regulation, following the Falcon Labs order and the FTX collapse.
The CFTC is clarifying its futures extraterritoriality rules following confusion from the Falcon Labs order, aiming to enhance regulatory clarity and compliance.
Saudi Arabia is set to become the final G20 country to implement close-out netting legislation, enhancing its financial regulations and attracting global investment.
We're just a bunch of guys mixing up market news with our own brand of banter, giving you the lowdown on stocks with a twist at Walk The Street Capital.
