EPA Fakes Regulatory Cost-Benefit Calculations
Photo Credit: NewscomWhen pressed about the staggering increases in regulatory burden under his administration, President Obama says not to worry because the benefits exceed the costs. But a new and revealing set of charts from the U.S. Chamber of Commerce highlights the shameless deception used to calculate the bulk of these purported benefits.
In Charting Federal Costs and Benefits, Chamber researchers analyzed the benefits calculations of the Environmental Protection Agency, which is responsible for the largest portion of the most costly regulations in recent years. What they found obliterates the president’s claims that sky-high regulatory costs are justified.
Specifically, the researchers reviewed the 45 rules for which the agency calculated benefits between 2000 and 2013. (The fact that the EPA failed to calculate benefits for any of the other 7,570 rules imposed by the agency in that period is another serious problem.) Although the regulations were crafted to address a variety of emissions, including carbon dioxide, lead, mercury and sulfur dioxide, a whopping 97 percent of the benefits actually were derived from the reduction of a single element—fine particulate matter—that was incidental to the pollutant targeted by the regulation.
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