Report: White House may increase the ‘social cost of carbon’; Would make carbon regulation appear to be more cost-effective

The social cost of carbon is supposed to represent the incremental damage from a ton of CO2 emissions. The Obama administration set this at $21.40 in May 2010. Sen. Sheldon Whitehouse says it is under review to go higher.

Read the interview with Sheldon Whitehouse, in which he stated:

… And in our discussion [last] week with the White House, we learned that OMB is reviewing that. So it could very well be that the OMB social cost of carbon number increases, in which case that would be an argument in favor of the higher fee to offset the higher damage calculation…

Click for the May 2010 Federal Register announcement in which EPA described how it arrived at $21.40.

2 thoughts on “Report: White House may increase the ‘social cost of carbon’; Would make carbon regulation appear to be more cost-effective”

  1. It would just be a tax. It won’t offset anything. This is all chatter to get the people to accept a new tax. The teleprompter will fail to convince us.

  2. There is no “social cost” of additional carbon dioxide emissions. Any policy based on “climate change” or “carbon pollution” or any similar phantom is presumptively wrong.
    Economically, any new tax in a time of economic stagnation is a bad idea.
    Environmentally, any procedure that requires subsidies to get a green benefit is probaby a green loss instead.

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