To Regulate or Not To Regulate? In the News (Wednesday)
BP prepares to settle over Texas City explosion and energy pricing charges. Officials said that the Texas City case would not resolve accusations against BP executives who may have failed to take steps to make the refinery safer and that those investigations would continue. According to NY Times: "The expected settlement in the refinery case signals the government’s willingness to take a hard line in forcing companies to redress environmental and worker safety problems."
Or Not To Regulate?
Well this "hard line" appears not to apply to regulating companies so that they don't create environmental problems in the first place. Which is why California, New York, and other states are preparing to sue the federal government over it's unwillingness to allow states to regulate environmental problems. The states will sue the Bush administration for "holding up efforts to regulate emissions from cars and trucks." Today Governor Spitzer’s administration is set to issue regulations requiring power plants to pay for their greenhouse gas emissions. “I believe that states have to step into a void created by a failure of federal action,” Mr. Spitzer said in an interview on Tuesday. “The global warming issue is one where the current administration has first denied the scientific evidence and only recently begun to discuss the matter in a serious way.”