| About This Archive | | DCHAS-L 2016 Index | | DCHAS-L Yearly Index | |
Check out Safety Emporium for your N95, N99, and face shield needs.
|
Previous by Date: Subject: [DCHAS-L] EPA webinar on Lautenberg Bill -- FIrst Year Implementation Plan Date: Wednesday, June 29, 2016 1:09:29 PM Author: Ralph Stuart <ras2047**At_Symbol_Here**MED.CORNELL.EDU> |
Next by Date: Subject: Re: [DCHAS-L] Updated law boosts EPA regulatory power over chemicals Date: Wed, 29 Jun 2016 13:14:48 -0400 Author: Ralph Stuart |
http://www.fool.com/investing/2016/06/28/why-pending-new-chemical-regulations-wont-hurt-dup.aspx
Why Pending New Chemical Regulations Won't Hurt DuPont, Dow, or 3M
The Lautenberg Act has passed both houses of Congress and is headed to the president's desk for signature. Here's why chemical investors don't need to worry.
If you had to pick an adjective to describe chemical companies' relationships with the Environmental Protection Agency, I'm betting "collegial" wouldn't be at the top of the list. Indeed, most industries have rocky relationships with the government agencies that oversee them.
So you can only imagine what kind of reaction the big chemical companies had to new legislation that strengthened the EPA's powers over regulation of chemicals. Cal Dooley, president and CEO of the American Chemistry Council, an industry group that includes heavy hitters DuPont (NYSE:DD), Dow Chemical (NYSE:DOW), and 3M (NYSE:MMM), summed up the industry feeling nicely: "We applaud President Obama for signing this legislation into law."
Wait, what?
Surprising as it may seem, this new regulatory authority isn't bad for the industry and might actually be to its benefit. Here's why.
Time for a change
It's been 40 years since the last major overhaul of the country's chemical regulations. Back in 1976, Gerald Ford signed the Toxic Substances Control Act into law. The TSCA gave the EPA the authority to regulate all chemicals manufactured in or shipped to the U.S. -- well, almost all. Some 60,000 chemicals that were already in use were grandfathered in and assumed to be safe.
This presumption of safety even applied to new chemicals until evidence emerged that a chemical was hazardous. Moreover, the TSCA required the EPA to perform cost-benefit analyses to industry before proposing regulations, and to prove that a substance was an "unreasonable risk" before taking any action. Chemical companies could also withhold information from the EPA, citing trade secrets. And there was no requirement for a chemical company to test the safety of its products before beginning to sell them.
From: "Stuart, Ralph" Why Pending New Chemical Regulations Won't Hurt DuPont, Dow, or 3M The Lautenberg Act has passed both houses of Congress and is headed to the president's desk for signature. Here's why chemical investors don't need to worry. If you had to pick an adjective to describe chemical companies' relationships with the Environmental Protection Agency, I'm betting "collegial" wouldn't be at the top of the list. Indeed, most industries have rocky relationships with the government agencies that oversee them. So you can only imagine what kind of reaction the big chemical companies had to new legislation that strengthened the EPA's powers over regulation of chemicals. Cal Dooley, president and CEO of the American Chemistry Council, an industry group that includes heavy hitters DuPont (NYSE:DD), Dow Chemical (NYSE:DOW), and 3M (NYSE:MMM), summed up the industry feeling nicely: "We applaud President Obama for signing this legislation into law." Wait, what? Surprising as it may seem, this new regulatory authority isn't bad for the industry and might actually be to its benefit. Here's why. Time for a change This presumption of safety even applied to new chemicals until evidence emerged that a chemical was hazardous. Moreover, the TSCA required the EPA to perform cost-benefit analyses to industry before proposing regulations, and to prove that a substance was an "unreasonable risk" before taking any action. Chemical companies could also withhold information from the EPA, citing trade secrets. And there was no requirement for a chemical company to test the safety of its products before beginning to sell them.
Previous post | Top of Page | Next post
Subject: Economic Analysis: Why Pending New Chemical Regulations Won't Hurt DuPont, Dow, or 3M
Date: June 29, 2016 at 11:38:28 AM EDT
To: "DCHAS-L**At_Symbol_Here**MED.CORNELL.EDU"
It's been 40 years since the last major overhaul of the country's chemical regulations. Back in 1976, Gerald Ford signed the Toxic Substances Control Act into law. The TSCA gave the EPA the authority to regulate all chemicals manufactured in or shipped to the U.S. -- well, almost all. Some 60,000 chemicals that were already in use were grandfathered in and assumed to be safe.