The EPA officially revoked the endangerment finding for greenhouse gas (GHG) emissions and eliminated clean vehicle standards in a blow to both our economy and our environment. Sandra Purohit, federal advocacy director for the national nonpartisan business group E2, made the following statement:
Sandra Purohit, E2
“This decision will drive up costs for businesses and consumers and weaken our economy. It upends nearly two decades of commonsense policy. It injects huge uncertainty into the marketplace. It discourages capital investment and innovation in the auto industry. And it ignores the economic costs of extreme weather that’s only made worse by rising GHG pollution – including disaster clean-up, higher insurance premiums, lost productivity, and supply chain disruption.”
Background
- Repealing limits to GHG emissions from automobiles alone is expected cost Americans an additional $1.6 trillion in fuel costs.
- The EPA’s own impact analysis estimates that repealing the Endangerment Finding will cost consumers $350 billion per year, mostly from increased fuel costs.
- Rising temperatures and other climate-related problems fueled by greenhouse gas emissions have already reduced U.S. wages by an estimated 12 percent. Unshackling guardrails around GHG emissions will further depress wages and increase the number of heat-related labor shortages.
- Reinsurance firm Swiss RE estimates that GHG emissions could reduce the U.S. Gross Domestic Product by 10 percent annually by 2050.
In September, 177 business leaders signed this E2 letter to EPA Administrator Lee Zeldin, urging the agency to enforce and uphold the endangerment finding and vehicle emissions standards that drive innovation, save consumers money, and support U.S. competitiveness.
To speak with Sandra or to get more information on the ramifications of repealing the EPA’s endangerment finding, please contact Daniel Baker at [email protected].
