Thought-provoking column by CNBC’s Larry Kudlow, whose message in the wake of the 10 percent unemployment announced Friday is that the economy needs less meddling from the federal government in the way of programs, spending and new regulations.
[On] the subject of energy-related jobs, the EPA is now going to penalize manufacturing America — or what’s left of it — with tougher standards to reduce smog. Of course, smog has already fallen 25 percent in the last three decades. And the EPA’s projected smog savings are so miniscule compared to the new costs for business that the National Association of Manufacturers, the petrochemical makers, and others are screaming bloody murder.
This little EPA beauty could cost up to $90 billion annually. All of this with a 10 percent unemployment rate, mind you. It’s another triumph for left-wing social policy over economic-growth policy.
And get this. Interior Secretary Ken Salazar recently announced that he is closing down federal lands for oil and gas drilling. This with the price of oil hovering around $83 a barrel and retail gas at the pump moving in the direction of $3 per gallon. Huh? Does anybody in Washington have any common sense at all?
For more on the ozone rule, see Bryan Brendle’s post, “Derailing the Economy.”
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