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Investor Presentaiton

37 statutory language is not merely an exercise in ascertaining" its most expansive meaning, FCC v. AT&T, 562 U.S. 397, 407 (2011), as courts should not “indulge efforts to endow the Executive Branch with maximum bureaucratic flexibility," Niz-Chavez v. Garland, 141 S. Ct. 1474, 1484 (2021). The lower court erred in stopping with "system's" broadest meaning without asking whether context called for a more tempered read. At the least, "system's" context demands only "complex unities" that individual sources can perform. The majority was also wrong to interpret "application" in an unbounded, context-free way. Standards of performance "reflect" the degree of limitation possible "through the application" of the best system of emission reduction. 42 U.S.C. § 7411(a)(1). As the noun form of the verb "apply," "application" means "to put to use with a particular subject matter." Application, BLACK'S LAW DICTIONARY (11th ed. 2019). Putting a system of emission reduction "to use" means using it for something. The obvious "something” here is the facility that emits—in Sections 111(b) and (d) terms, a new or existing stationary source. Thus, the "best system" "appl[ies]" to a stationary source that is, a "building, structure, facility, or installation." 42 U.S.C. § 7411(a)(3). The lower court resisted this conclusion by observing that a sentence can be grammatically correct with no express indirect object, particularly when it employs a nominalized verb like “application." JA.111-13. In its view, then, "best system" need not apply to any specific entity. JA.112-13. But the insight that a sentence without an indirect object may not break the rules of grammar does not change the reality that "apply" (no matter its form) must be directed to something (express or not). Plenty of words work this way. "They told the story" is a
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