The combined effect of the Obama EPA rules.
EPI Briefing Paper. :12.
President Obama’s Environmental Protection Agency has been under wide-scale attack this year. A series of congressional hearings and industry statements have argued that particular EPA regulations, especially in combination with one another, will damage the economy and lower employment. Previous Economic Policy Institute analyses discuss the relationship between regulations and employment in detail (Shapiro and Irons 2011). This paper examines the combined effects of the major EPA regulations that the Obama administration has already finalized as well as the regulations that it has proposed but not finalized. The paper focuses on major rules for which cost and benefit data are available. In May 2011, EPI first released a paper tallying up the effect of Obama EPA rules, but several significant changes in final and proposed EPA rules have been made since then (see Appendix A for those changes), so it was necessary to issue this new paper that accounts for these changes.
EIA - International Energy Outlook 2011.
In the IEO2011 Reference case, which does not incorporate prospective legislation or policies that might affect energy markets, world marketed energy consumption grows by 53 percent from 2008 to 2035. Total world energy use rises from 505 quadrillion British thermal units (Btu) in 2008 to 619 quadrillion Btu in 2020 and 770 quadrillion Btu in 2035 (Figure 1). Much of the growth in energy consumption occurs in countries outside the Organization for Economic Cooperation and Development (non-OECD nations)2 where demand is driven by strong long-term economic growth. Energy use in non-OECD nations increases by 85 percent in the Reference case, as compared with an increase of 18 percent for the OECD economies.