Kudos to President Obama for figuring out how to do whatever he wants without the need for that annoying need for legislation.
Check it out:
Remember back during the 2008 presidential campaign when Barack Obama promised to bankrupt anyone who wanted to build a coal-fired power plant and essentially shut down the coal industry?
For those not paying attention, despite his inability to get cap-and-trade passed, he is still pursuing this plan. Now, he’s doing it via EPA regulations known as New Source Performance Standards (NSPS)– which amount to a “cap” without the “trade.”
There is a virtual metric ton wrong with these standards, which would impose firm caps on the amount of carbon new coal-fired power plants can emit. (Note that Obama and his EPA are also considering extending the rules to existing coal-fired power plants, which sounds even more awesome).