"WASHINGTON — Failing to adequately reduce the carbon pollution that contributes to climate change could cost the United States economy $150 billion a year, according to an analysis by the White House Council of Economic Advisers released on Tuesday.
The report is part of the White House’s effort to increase public support for President Obama’s climate-change agenda, chiefly an Environmental Protection Agency proposal targeting coal-fired power plants, the nation’s largest source of planet-warming pollution. The E.P.A. will hold public hearings, which are expected to be heated, on the proposal this week in Washington, Atlanta, Denver and Pittsburgh.
The rule could lead to the shutdown of hundreds of power plants, a decline in domestic coal production, an increase in electricity rates and a fundamental transformation of the nation’s power supply. The White House has repeatedly sought to make the case that the long-term cost of not cutting carbon emissions — including longer droughts, worse floods and bigger wildfires that will damage homes, businesses and the nation’s infrastructure — will be higher than the short-term expense of carrying out the regulation."