The Market Just Crossed a Dangerous Line

The man who predicted the 2008 crash and 2020 says today's soaring markets are NOT a bubble - they're something far stranger and more dangerous. He says it's about to change everything you know about money.

EPA head says he'll roll back dozens of environmental regulations, including rules on climate change

MATTHEW DALY
March 12, 2025

WASHINGTON (AP) -- In what he called the "most consequential day of deregulation in American history," the head of the Environmental Protection Agency announced a series of actions Wednesday to roll back landmark environmental regulations, including rules on pollution from coal-fired power plants, climate change and electric vehicles.

"We are driving a dagger through the heart of climate-change religion and ushering in America's Golden Age,'' EPA Administrator Lee Zeldin said in an essay in The Wall Street Journal.

His actions will eliminate trillions of dollars in regulatory costs and "hidden taxes," Zeldin said, lowering the cost of living for American families and reducing prices for such essentials such as buying a car, heating your home and operating a business.

"Our actions will also reignite American manufacturing, spreading economic benefits to communities," Zeldin wrote.

In all, Zeldin said he is rolling back 31 environmental rules, including a scientific finding that has long been the central basis for U.S. action against climate change.

Zeldin said he and President Donald Trump support rewriting the agency's 2009 finding that planet-warming greenhouse gases endanger public health and welfare. The Obama-era determination under the Clean Air Act is the legal underpinning of a host of climate regulations for motor vehicles, power plants and other pollution sources.

Environmentalists and climate scientists call the endangerment finding a bedrock of U.S. law and say any attempt to undo it will have little chance of success.

"In the face of overwhelming science, it's impossible to think that the EPA could develop a contradictory finding that would stand up in court," said David Doniger, a climate expert at the Natural Resources Defense Council, an environmental group.

In a related action, Zeldin said EPA will rewrite a rule restricting air pollution from fossil-fueled fired power plants and a separate measure restricting emissions from cars and trucks. Zeldin and the Republican president incorrectly label the car rule as an electric vehicle "mandate.''

President Joe Biden's Democratic administration had said the power plant rules would reduce pollution and improve public health while supporting the reliable, long-term supply of electricity that America needs.

The EPA also will take aim at rules restricting industrial pollution of mercury and other air toxins, as well as separate rules on soot pollution and federal protections for significant areas of wetlands.

"This isn't about abandoning environmental protection -- it's about achieving it through innovation and not strangulation," Zeldin wrote. "By reconsidering rules that throttled oil and gas production and unfairly targeted coal-fired power plants, we are ensuring that American energy remains clean, affordable, and reliable."

University of Pennsylvania climate scientist Michael Mann called the EPA's action "just the latest form of Republican climate denial. They can no longer deny climate change is happening, so instead they're pretending it's not a threat, despite the overwhelming scientific evidence that it is, perhaps, the greatest threat that we face today."

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