SCOTUS Stay of EPA Rule: Much Ado About Nothing

Supreme Court’s Stay of Obama’s EPA Climate Rule is causing a big commotion among top down decision makers who want “legally sound policies enacted in the United States to curb carbon emissions.” It’s laughable how these conveners of The Paris Accord believe what they do matters when the reality is that President Obama through Secretary of State John Kerry took a victory lap for our having lead the World in lower emissions without written instructions from above. Currently the U.S. uses less coal because fracked gas is so much cheaper. It happens to be cleaner so the Administration got a good result to crow about but the market did not need a gun pointed to its head to use it.  If the Supreme Court determines that the EPA over reached then no big deal since its rules codify the market reality that coal is going out of business. Readers of the financial press know but it’s doubtful there are many that do among those wringing their hands over this SCOTUS action.