Last week, EPA formally revised the cost-benefit analysis for its rule limiting the emissions of hazardous air pollutants from coal-fired power plants. The rule jettisons consideration of so-called “co-benefits,” in this case, the benefits from the reduction in emissions of PM2.5 that result from limits on mercury emissions. The very idea of excluding consideration of co-benefits is just plain incoherent.
I’ve spent my career defending cost-benefit analysis to many of my environmentalist friends. … More