Earlier this month, the Obama Administration released its 645-page proposal that mandates existing U.S. power plants reduce their greenhouse gas emissions at least 30 percent below 2005 levels by the year 2030. Before the exact proposal was announced, the US Chamber of Commerce had commissioned a study of hypothetical regulations (based on the likely nature of the new proposal), and found the costs to be quite high, with the hypothetical regulations to fail even the Administration’s own cost/benefit criterion for carbon policies.