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There is no question that at high levels of exposure asbestos is bad stuff, and little question that it is linked to higher rates of lung cancer and mesothelioma. There is a question, though, of what constitutes a high level.
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Well, where I'm from they have a saying: "Better safe than sorry." In international law and national law this is commonly referred to as the "precautionary principle." Now entire chapters in textbooks are dedicated to this notion.
But, suffice to say it is an underlying notion in most every US environmental statute, including the clean air act. Which may explain why EPA assumed a more-than-safe limit. How close to the line do you want to tread when cancer is on the other side of the line? Not very close, I say.