The U.S. Supreme Court continued its busy summer this week, issuing a landmark ruling limiting the mpower of the Environmental Protection Agency. The ruling could have significant financial implications for a number of energy sector stocks.
What Happened? On Thursday, the Supreme Court ruled 6-3 to restrict the EPA's ability to limit carbon emissions from power plants. The court ruled the EPA must first gain approval from Congress before enacting sweeping climate change regulations. The decision specifically focused on the Clean Power Plan, an Obama administration regulation calling for U.S. power plants to cut carbon emissions by 32% from 2005 levels by 2030.
