The social cost of carbon is zero — as an open and transparent process would demonstrate.
Industry groups last week petitioned the White House to scrap its estimate for the social cost of carbon and revise it through a “transparent, public process.”
Seven trade groups — including America’s Natural Gas Alliance, the American Petroleum Institute and the National Association of Manufacturers — wrote in the Wednesday letter to the Office of Management and Budget that the administration had followed an inappropriately obscure process when revising its social cost of carbon, or SCC. The new estimate for the incremental cost to society of each ton of carbon dioxide was released in May and replaces a lower 2010 version.
The interagency working group responsible for the new estimate worked in private without giving outside parties an opportunity to comment, the petitioners note in their letter. This violates OMB’s own guidelines, they said, which call for a “high degree of transparency about data and methods” when developing “influential information,” including a requirement that third parties be able to reproduce the information independently.