"Obama Will Use Nixon-Era Law to Fight Climate Change"

"President Barack Obama is preparing to tell all federal agencies for the first time that they have to consider the impact on global warming before approving major projects, from pipelines to highways."

"The result could be significant delays for natural gas- export facilities, ports for coal sales to Asia, and even new forest roads, industry lobbyists warn.

'It’s got us very freaked out,' said Ross Eisenberg, vice president of the National Association of Manufacturers, a Washington-based group that represents 11,000 companies such as Exxon-Mobil Corp. (XOM) and Southern Co. (SO) The standards, which constitute guidance for agencies and not new regulations, are set to be issued in the coming weeks, according to lawyers briefed by administration officials. "

Mark Drajem reports for Bloomberg March 14, 2013.

Source: Bloomberg, 03/15/2013