Obama Memo To EPA Endorses 'Market-Based' Power Plant GHG Limits

President Obama is calling on EPA to develop first-time greenhouse gas (GHG) limits at existing power plants using “market-based instruments” that many states are already using while taking other steps to limit costs, suggesting that the agency will have maximum flexibility as it crafts rules or guidance for states to mandate the cuts. While the flexible approach could open the door to a possible deal that some industry sources have suggested might be possible on EPA power plant rules, the...