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Biden Administration raises social cost of carbon (used in regulatory decisions) from $51/ton to $190/ton (www.nytimes.com)
submitted 11 months ago by silence7@slrpnk.net to c/climate@slrpnk.net
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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.

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[-] PoisonedPrisonPanda@discuss.tchncs.de 33 points 11 months ago

Thats huge!

[-] silence7@slrpnk.net 45 points 11 months ago

Definitely, and still way below the numbers that have been showing up in the academic literature over the past couple years.

[-] PoisonedPrisonPanda@discuss.tchncs.de 9 points 11 months ago

I thought 250 usd/ton was one of those numbers from literature?

Whats proposed nowadays?

[-] silence7@slrpnk.net 10 points 11 months ago

Up to $525/ton

[-] PoisonedPrisonPanda@discuss.tchncs.de 10 points 11 months ago

Ok. Still 200 is better than 50.

[-] assembly@lemmy.world 6 points 11 months ago

Considering Trump wants it at $5 I would consider the current progress fantastic.

[-] Coasting0942@reddthat.com 4 points 11 months ago

Got a source, and also how you go about keeping yourself updated on that number

[-] IlliteratiDomine@infosec.pub 7 points 11 months ago

The full article is paywalled, but the abstract of this meta-analysis states "In the past 10 years, estimates of the social cost of carbon have increased from US$9 per tCO2 to US$40 per tCO2 for a high discount rate and from US$122 per tCO2 to US$525 per tCO2 for a low discount rate." Published May 15 of this year.

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this post was submitted on 02 Dec 2023
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