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Wednesday, February 7, 2024

EPA Toughens Air-Quality Standards, Drawing Protests From Industry Groups

 EPA on Wednesday unveiled stronger air quality standards that impose new limits on fine particle pollution widely known as soot, angering industry groups.

Both the American Petroleum Institute and the National Association of Manufacturers said the decision would hit the economy hard and promised to consider "all options" to reverse it.

The EPA's final rule requires the lowering of the annual soot level to 9 micrograms per cubic meter of air from the current level of 12 micrograms.

The agency said in a news release that the rule will prevent up to 4,500 premature deaths and 290,000 lost workdays, yielding up to $46 billion in net health benefits in 2032.

"This final air quality standard will save lives and make all people healthier, especially within America's most vulnerable and overburdened communities," EPA Administrator Michael Regan said.

API said the country's air quality has significantly improved under the existing standards, thanks to cleaner fuels, advanced technologies and industry actions.

"Today's announcement is the latest in a growing list of short-sighted policy actions that have no scientific basis and prioritize foreign energy and manufacturing from unstable regions of the world over American jobs, manufacturing, and national security," the trade group said. "As we review the final standard, we will consider all our options."

The group, which represents all segments of the U.S. oil and natural gas industry, also said that the majority of current PM2.5 emissions (particles that are 2.5 micrometers or less in diameter) originate from non-point sources such as wildfires and road dust, while industrial sources account for less than 7%.

Jay Timmons, chief executive of the National Association of Manufacturers, also criticized the decision, saying it takes direct aim at manufacturing, investment and job creation in direct contradiction to President Joe Biden's stated goal of strengthening manufacturing in communities all across America.

The largest manufacturing association in the country, the group comprises small and large manufacturers in every industrial sector across the country.

"Manufacturers will consider all options to reverse this harmful and unnecessary standard, because it is our duty to stand against policies that hold our country back," Timmons said.

EPA said it finalized the new standards after considering extensive public input, including 700,000 written comments.


https://www.marketscreener.com/quote/commodity/WTI-2355639/news/EPA-Toughens-Air-Quality-Standards-Drawing-Protests-From-Industry-Groups-OPIS-45905676/

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