The Obama administration is warning Congress that if it doesn’t move to regulate greenhouse gases, the Environmental Protection Agency will take a “command-and-control” role over the process in a way that could hurt business.
But while administration officials have long said they prefer Congress take action on climate change, the economic official who spoke with reporters Tuesday night made clear that the EPA will not wait and is prepared to act on its own.
And it won’t be pretty.
“If you don’t pass this legislation, then … the EPA is going to have to regulate in this area,” the official said. “And it is not going to be able to regulate on a market-based way, so it’s going to have to regulate in a command-and-control way, which will probably generate even more uncertainty.”
The Obama administration is saying, in effect: “Don’t worry about the adverse economic effects of cap and trade, because if you don’t pass it, we will do it by bureaucratic fiat and we’ll really screw things up.” Unbelievable.