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Critics: EPA 'Cooking the Books' on Climate Rule
15 Feb
Summary
- Administration claims $1.3tn savings from climate rule repeal.
- Analysis shows $1.5tn in estimated costs from repeal.
- Critics argue repeal benefits oil companies over public.
The Trump administration's repeal of federal climate regulations, specifically the endangerment finding, is facing criticism for its economic projections. The administration asserted this rollback would save the U.S. $1.3 trillion by 2055, primarily through reduced vehicle prices and lower electric vehicle spending.
However, the EPA's own regulatory impact analysis reveals an estimated $1.5 trillion in additional costs by 2055. These costs stem from increased fuel purchases, vehicle maintenance, insurance, and reduced energy security. The analysis also suggests gasoline prices could rise by 75 cents per gallon by 2050.
Critics argue the projected savings are based on unrealistic low fuel price scenarios and that the administration is ignoring significant climate and health costs. Environmental groups contend the repeal benefits fossil fuel companies and wealthy donors at the expense of the working class and vulnerable populations, potentially increasing greenhouse gas emissions by 10% by 2055.
