Evaluate the Clean Air Act
and determine if it has been effective from an economic standpoint. Explain your reasoning. Based on your evaluation of the Clean Air Act and additional efforts to address pollution, make policy recommendations that would further reduce air pollution yet bolster the economy.
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Economic Impact Of The Clean Air Act
Analysis indicated that the total economic value of Clean Air Act environmental law for the 20-year period ranged between 5.6 and 49.4 trillion dollars. The mean estimated economic benefits was estimated to be 22.2 trillion dollars. During the 20 year period, the implementation and compliance cost was estimated to be 0.5 trillion dollars(Lockwood, 2012). Therefore, the net economic benefit was estimated to range between 5.1 and 48.9 trillion dollars, while the mean estimates to be at 21.7 trillion dollars.
Scientific studies have proved that global warming is a real threat to the world. Many scientific studies on the global warming have highlighted environmental factors that have continuous change over a period of time. The environmental changes include rising in global temperature that leads melting of ice in mountain tops and Iceland and subsequently rising of sea level thus causing floods. The United States should adopt other environmental laws and policies to reduce the emission of greenhouse gas emission. These laws should ensure that industries emitting greenhouse gases such as carbon dioxide beyond the stipulated standards are compelled to pay countries that produce less carbon dioxide through a process of carbon sequential.
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