EPA’s cost estimate for its mercury rule was way, way off.
In describing cost-benefit analysis to students, I’ve often told them that the “cost” side of the equation is pretty simple. And it does seem simple: just get some engineers to figure out how industry can comply and run some spreadsheets of the costs. But this seemingly simple calculation turns out to be riddled with uncertainties, …CONTINUE READING
In absolute terms, environmental compliance costs might be large, but relative to the economy as a whole, they’re not much more than a rounding error.CONTINUE READING