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Investor Presentaiton

23 for criminal enforcement," after all, did not empower the Attorney General to "declare[] certain conduct criminal" in the first place. Gonzales, 546 U.S. at 262. Neither can EPA dictate industry shakeups because some of its prior rules had second-order consequences for electricity generation. Fourth, the lower court's interpretation sanctions regulatory authority over countless new entities. The CPP asserted for the first time power to regulate source "owners and operators" directly, rather than identifying technology and setting standards for individual sources. JA.543 (quoting 42 U.S.C. § 7411(d)(1)). Untying Section 111(d) from "the sources themselves" allowed EPA to appoint itself regulator of the "complex machine" of "the North American power system." JA.543, 569. And though the CPP focused on the energy sector, the same move in the majority's hands now allows EPA to regulate any producer in any economic sector-or really any building owner. Yet remember what UARG said: Imposing new regulatory burdens on "the operation of millions[] of sources nationwide falls comfortably within the class of authorizations" the Court has been "reluctant to read into ambiguous statutory text." 573 U.S. at 324; see also, e.g., Brown & Williamson, 529 U.S. at 159-60 (rejecting expanded agency jurisdiction over new “portion[s] of the American economy"). The CPP's reach alone thus more than suggests a major question; the D.C. Circuit's reading confirms it. The majority again moved too quickly past this factor. Yes, Section 111(d) has covered existing power plants before. JA.136, 140-41, 147. But nothing before the CPP suggested that their owners, or power grids as singular units, were subject to standards of performance, too. To view this shift as within "the heart of the EPA's mandate,"
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