delete Reduction in the Release of Volatile Organic Compounds (Storage and Loading of Volatile Petroleum Liquids) Regulations
Command-and-control regulation mandating VOC emission controls, monitoring, and reporting for petroleum storage and loading facilities based on size and chemical thresholds.
High compliance costs, regulatory burden, and operational restrictions reduce economic competitiveness and investment; violates property rights and assumes government knowledge superior to market-based solutions. Unseen effects include reduced supply, higher consumer costs, and innovation stifling. Environmental goals achievable more efficiently through liability rules or pollution taxes.