Bloomberg reported that as per draft rules released today by the US Environmental Protection Agency (EPA), new coal-burning power plants will be required to limit their carbon dioxide emissions by capturing and storing some of the carbon dioxide they produce. Industry members have responded with the claim that the process is so expensive that it will stop new plants from being built.
As quoted in the market news:
‘These carbon pollution standards are flexible and achievable,’ EPA Administrator Gina McCarthy said today in remarks at the National Press Club in Washington. ‘They pave a path forward for the next generation of power plants.’
The EPA’s move sets the stage for the more far-reaching set of final rules governing emissions from existing power plants, due by June 2014. While restrictions on emissions of sulfur dioxide and other pollutants have been in place for years, these will be the first for gases most blamed for global warming.