Biden Administration Unleashes Powerful Regulatory Tool Aimed at Climate
www.nytimes.com
Its new estimate of the economic impact of climate change could create the legal justification for aggressive new regulations.

The higher the number, the greater the government’s justification for compelling polluters to reduce the emissions that are dangerously heating the planet. During the Obama administration, White House economists calculated the social cost of carbon at $42 a ton. The Trump administration lowered it to less than $5 a ton. Under President Biden, the cost was returned to Obama levels, adjusted for inflation and set at $51.

The new estimate of the social cost of carbon, making its debut in a legally binding federal regulation, is almost four times that amount: $190 a ton.

  • DigitalFrank@lemmy.worldEnglish
    24·
    11 months ago

    So the “social cost” is magically whatever they need it to be? I guess the next republican administration lowers it to about $3.50…

    • silence7@slrpnk.netOPM
      6·
      11 months ago

      It’s an estimate of how much damage a given amount of emissions does. The number has risen as we have gotten a better understanding of how damaging greenhouse gas emissions are

      • DigitalFrank@lemmy.worldEnglish
        11·
        11 months ago

        Seems more likely that it’s policy driven, not science driven. I’d like to see the peer-reviewed science that quadrupled the number.