Yes, you’re absolutely right about the need to evaluate the true costs and benefits of any environmental regulation/policy. Econ Prof made good points WRT diminishing returns, and I really can’t disagree with anything s/he has said. Still, I just wanted to point out that the “benefits” might not be economic — it still might be worth it (or not).[/quote]
Don’t fall for the same ‘sky will fall’ BS that big business has been using forever. Here’s what GM had to say in the 1970’s regarding catalytic converters:
However, the Auto Alliance’s protest seems very familiar. Back in the 1970s, GM warned the EPA, “[I]f GM is forced to introduce catalytic converter systems across-the board on 1975 models, the prospect of an unreasonable risk of business catastrophe and massive difficulties with these vehicles in the hands of the public must be faced.” Catalytic converters were shortly after introduced and found to work fine, and customers continued to consume Detroit’s cars.
