From the NY Times:   WASHINGTON — President Obama is preparing regulations limiting carbon dioxide emissions from existing power plants.  The move would be the most consequential climate policy step he could take and one likely to provoke legal challenges from Republicans and some industries.

Electric power plants are the largest single source of global warming pollution in the country, responsible for nearly 40 percent of greenhouse gas emissions.  Since the Republicans in Congress have killed other attempts to prevent climate change,  the decision on existing power plants — which a 2007 Supreme Court decision gave to the executive branch — has been among the most closely watched of Mr. Obama’s second term.

Of course, Obama's opponents are using that age-old argument against protecting the environment, that it will be too expensive and will cost jobs.

So lets see.   According to the insurance companies that have to pay for climate-related disasters....

Superstorm Sandy:   $65 billion
Drought in midwest:    $35 billion
Fires in Colorado:      $8.5 million to fight so far, cost of destroyed homes over $200 million
Estimated cost to flood-proof New York City:  $27 billion

Then there are the increased floods every where and ...   So, do we prevent it or pay too much afterwards?