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Obama EPA to Announce Even More Regulations; Could Raise Gas Price 9 Cents Per Gallon

The Environmental Protection Agency's power to formulate regulations without Congressional authorization is the subject of a case currently being decided in the US Supreme Court. Justices have voiced skepticism that the EPA even has such power. But that isn't slowing the agency down, nor is the rapidly developing situation in Ukraine. The EPA is reportedly set to announce yet another round of unilaterally-imposed sanctions on the US economy.

The Environmental Protection Agency will reportedly announce a new rule Monday that requires oil refiners to strip even more sulfur molecules from American gasoline blends.

The New York Times reports that the new rule will require oil refiners to install new equipment and carmakers to install newer, cleaner fuel-burning technology in engines. The EPA estimates that the cost of gasoline will be raised by two-thirds of a cent per gallon as a result of the new regulations, while the sticker price of a car will be increased by $75.

The former estimate is disputed by Charles Drevna, president of the American Fuel and Petrochemical Manufacturers lobbying group. Drevna claims that the price of gasoline could rise by up to 9 cents per gallon.

"I don’t know what model [the EPA] uses," Drevna told The Times. "The math doesn’t add up."

That's the story of the Obama administration: The math doesn't add up.