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Today's Supermarket Green Analysis
10/09/2007
Bigger EPA Settlements on their Way
Today the EPA announced the largest settlement in its history. Although the settlement had nothing to do with the Supermarket business, the trend to increase in settlement costs shouldn't be ignored. In this case, American Electric Power lost $4.6 billion in a $15 million settlement.
What interests Supermarket Green News is how the EPA thinks. It's not the $4.6 billion they mention, which is presumably the losses American Electric will suffer from operations now shut down combined with new expenses the EPA typically imposes in settlements as remedies. It is the way they justify these losses by measuring them against benefits to the public.
"Today's settlement will save $32 billion in health costs per year for Americans," said Granta Nakayama, Assistant Administrator for EPA's enforcement and compliance assurance program.
"Less air pollution from power plants means fewer cases of asthma and other respiratory illnesses."
OK - fewer health costs. That's it. Correct me if I'm wrong, but if everyone lives longer, does that actually reduce health costs? I mean, doesn't everyone still get old and die? And in fact, with an already stressed social security system budget, doesn't that simply add to costs?
Add to this the stress to families who have to care for the elderly. I don't mean to sound uncompassionate. I'm just talking about dollars and cents.
Then there are the unmentioned costs that stem from economies affected by businesses that take $4.6 billion losses. The EPA didn't mention those. And what a pandora's box when you figure in the politial dynamics in wartime, where big oil and dependence on foreign oil are big issues.
Supermarket Green News is a business site so what you can count on here is business analysis. We are not advocates for the EPA. We are advocates for business as it relates to the EPA. Neither are we a political site. We are not tree hugging flakes. We do care about the environment and about people. But truth is truth.
Our objective is to show our readers what the EPA is doing and how it may affect their business. Whether you agree with the EPA's analysis or not, they hold a big stick. Penalties and settlements are increasing with time. Enforcement is up. Be on the alert.
Article by James Carvin
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