The US learns that green laws make sense after all
make no mistake, us President George W Bush’s office has conceded that green laws make sound economic sense. Although the White House reiterated what it states in a report released every year, greater significance is being attached to the review conducted this time because it is the most comprehensive ever. The study concludes that the quantified benefits of environmental regulations exceed the costs of implementing them by a much wider margin than previously believed. Another key revelation is that 60 to 70 per cent of the gains are attributable to a handful of clean air rules.
The Office of Management and Budget (omb), an agency that assists the President in the development and execution of policies, regularly reviews the cost-effectiveness of major rules and presents annual estimates. It came out with the latest report