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Financially Equivalent but Behaviorally Distinct? Pollution Tax and Cap-and-Trade Negotiations

Economic theory suggests that pollution tax and cap-and-trade regulations can be functionally equivalent. Environmentalists tend to prefer the firm emissions cap in cap-and-trade programs, while economists and business interests tend to prefer the price certainty of tax programs. But both may be overlooking behavioral distinctions between the two policies. Using a novel randomized case experiment, this Article tests whether the framing changes negotiated policies.

Achieving “Some” Upfront Certainty and Resolve in Superfund Settlements

Superfund practitioners are waiting to see whether the U.S. Environmental Protection Agency (EPA) will designate perfluorooctanoic acid and perfluorooctane sulfonate, two chemicals in the per- and polyfluoroalkyl substances (PFAS) group, as CERCLA hazardous substances. Such a designation may lead to selected remedies being modified and further work being required at Superfund sites where remedies were believed to be complete. This Article explores potential future liability by reviewing provisions of the 2021 Remedial Design/Remedial Action (RD/RA) Model Consent Decree.

The Acceleration of Climate Creep: The Court Crashes, Congress Surges

This Comment takes up two recent conflicting developments: the U.S. Supreme Court’s decision in West Virginia v. Environmental Protection Agency, which was designed to undercut present and future federal climate action, and Congress’ surprising countermove passing climate legislation in the form of the Inflation Reduction Act, which has dramatically accelerated development of the rule of law around climate change in the United States.