politics and market paper.

Environmental Rules

· EPA proposes CO2 emissions rule for new power plants

· EPA published a proposed rule limiting CO2 emissions from new power plants, and withdrew the April 2012 proposal it is replacing. EPA received 2.5 million comments on its April proposal, and has incorporated the changes into its new proposal, which was announced in September of last year. Read our analysis  here . 

EPA publishes proposal to reduce power plant CO2 emissions

EPA published an economically significant proposed rule intended to reduce CO2 emissions from existing power plants. EPA expects annual compliance costs of $5.5 billion, climate benefits of $17 billion, and co-benefits of between $16 billion - $37 billion in 2020. Comments are due on October 16. Read the agency's 375-page regulatory impact analysis here.

· BLM Extends Comment Period for Proposed Fracking Rule

The Bureau of Land Management published a proposed rule announcing that the Bureau is extending the public comment period for its proposed rule, Oil and Gas; Hydraulic Fracturing on Federal and Indian Lands. The $20 million proposed rule would set standards for the 90 percent of wells on Federal and Indian lands that are subject to hydraulic fracturing, or ‘fracking’. “The BLM has analyzed the costs and the benefits of this proposed action in an accompanying Regulatory Impact Analysis available in the rulemaking docket. The estimated costs range from $12 million to $20 million per year. The range reflects uncertainty about the generalization of costs across all hydraulic fracturing operations. The potential benefits of the rule are more challenging to monetize than the costs, but that does not mean that the rule is without benefits. The rule creates a consistent, predictable regulatory framework, in accordance with the BLM's stewardship responsibilities under the Federal Land Policy and Management Act and other statutes, for hydraulic fracturing involving BLM-administered lands. The rule is designed to reduce the environmental and health risk that can be posed by hydraulic fracturing operations, particularly in the way the rule addresses flowback fluids, well construction, and hydraulic fracture design.” Although the rule will not have an annual effect of $100 million or greater on the economy, OMB has determined that this proposed rule is significant because it “may raise novel policy issues because of the requirement that operators provide to the BLM information regarding hydraulic fracturing operations that they are not currently providing to the BLM.” Comments are now due on August 23rd. https://www.federalregister.gov/articles/2013/06/10/2013-13708/oil-and-gas-hydraulic-fracturing-on-federal-and-indian-lands

· The Environmental Protection Agency published a proposed rule setting standards for the manufacture, storage, and distribution of some composite wood products and accompanying formaldehyde emissions. The rule, which affects nearly 879,000 small businesses, would “implement emissions standards established by TSCA Title VI for composite wood products sold, supplied, offered for sale, or manufactured in the United States… these regulations apply to hardwood plywood, medium-density fiberboard, and particleboard.” The proposal is estimated to result in quantified net costs of $24 million to $60 million per year using a 3% discount rate, and $57 million to $79 million per year using a 7% discount rate. However, “There are additional unquantified benefits due to respiratory and other avoided health effects. EPA considers health benefits from avoided health effects to be potentially important non-monetized impacts that contribute to the overall net benefits of this proposed rule.” Comments are due on August 9th. https://www.federalregister.gov/articles/2013/06/10/2013-13258/formaldehyde-emissions-standards-for-composite-wood-products

Financial Rules

· CFTC publishes concept release for potential regulation of high-frequency trading (submit comments here)

· SEC rule setting standards for credit rating agencies (e.g., Moodys, S&P). http://www.sec.gov/rules/proposed/2011/34-64514.pdf. Comments are available at http://www.sec.gov/comments/s7-18-11/s71811.shtml.

Food Safety Rules

· FDA extends comment period for proposed rule setting farm standards to prevent food contamination (submit comments here; read our comment here) [later they said they would repropose the rule]

· FDA Extends Comment Period for Proposed Rule Governing Human Food Manufacturing Good Practices -- The Food and Drug Administration announced it is extending the comment deadline for its proposed rule Current Good Manufacturing Practice and Hazard Analysis and Risk-Based Preventive Controls for Human Food. The good manufacturing practices, last updated in 1986, are being changed to implement hazard analysis and risk-based preventive controls for international and domestic producers. “These preventive controls would include requirements for covered facilities to maintain a food safety plan, perform a hazard analysis, and institute preventive controls for the mitigation of those hazards. Facilities would also be required to monitor their controls, verify that they were effective, take any appropriate corrective actions, and maintain records documenting these actions.” FDA estimates that these requirements will cost between $319 million – $475 million annually for covered entities. However, the Agency was unable to estimate any benefits, and instead relies on a breakeven percentage point at which the benefits of the rule will justify the costs. By this measure, the rule must prevent between 16 and 24 percent of covered food product illnesses annually. Comments are now due on September 16th. https://www.federalregister.gov/articles/2013/01/16/2013-00125/current-good-manufacturing-practice-and-hazard-analysis-and-risk-based-preventive-controls-for-human

· Modernization of Poultry Slaughter Inspection

Docket No. FSIS 2011-0012 | PDF (Apr 26, 2012) Extension of Comment Period · Proposed Rule: Docket No. FSIS-2011-0012  | PDF (Jan 27, 2012) · View/Submit Comments on Regulations.gov FDA extends comment period for sanitary food transport rule FDA extended the comment period for its proposed rule establishing sanitation requirements for transporters of human and animal food. The proposal would incur first-year costs of $149 million; FDA cannot quantify any potential benefits resulting from the rule. ·

Other Rules

· DOE extends comment period for furnace fan efficiency rule

DOE announced that it is extending the comment period for its proposed energy efficiency standards for furnace fans by 30 days. The proposal would save 4.58 quads of energy over 30 years, and would increase the price of furnace fans by up to $183 per unit.

Read our public comment  here .

DOT publishes proposals for rail transport of crude oil, ethanol

DOT officially published its proposed rule and a companion advanced notice of proposed rulemaking setting standards for the transportation of flammable materials (e.g. crude oil and ethanol) via rail. The proposed rule includes standards to phase out the use of older tank cars for the transport of these materials, along with enhanced tank car standards such as braking controls and speed restrictions for high-hazard flammable trains.

FCC proposes open Internet rule to replace "net neutrality"

Pursuant to the D.C. Circuit Court of Appeals' remand of its net neutrality rules in January 2014, FCC published a proposed "open Internet" rule that would adopt the text of net neutrality rule's no-blocking standards for broadband providers and require providers to "adhere to an enforceable legal standard of commercially reasonable practices." Through this proposal, FCC is seeking public comment on how best to protect and promote an open Internet.

FDA extends comment deadline for e-cigarette rule FDA is extending the comment period for its proposed rule allowing FDA to regulate e-cigarettes as "tobacco products", pursuant to the Tobacco Control Act. The proposal would limit sales of e-cigarettes to minors, and would require specified labeling. FDA proposes two regulatory options for consideration, one of which would exempt premium cigars from the standards. Comments are now due on August 8.

NHTSA reopens comment period for car seat side-impact rule

NHTSA is reopening for 120 days the comment period for its proposed rule setting side impact standards for children's car seats. Read our comment here .

DOT proposes consumer protection for airline ticket prices

DOT published a significant proposed rule that would codify the statutory definition of "ticket agent" in order to ensure adherence to existing regulations governing full-fare advertising and code-share disclosure. The proposal also requires airlines and ticket agents to disclose all fees and taxes related to the purchase of airfare.

FDA extends comment period for nutrition label revisions

FDA extended the comment period for its proposed rule that would amend existing nutrition fact labels. FDA proposed to remove "calories from fat" from nutrition labels, require products to list "added sugars," and list servings per container more prominently.