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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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[-] DigitalFrank@lemmy.world -2 points 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...

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[-] MuhammadJesusGaySex@lemmy.world -4 points 11 months ago

I wonder how this will affect the price of diesel. From what I’ve read from farmers that is the main thing driving the price of food up. Whether it’s meat or veggies. It takes lots of diesel to run a farm, and this could have serious implications for our food prices.

I just want to be clear that as an outdoors person I also would like a cleaner environment, but I also have to eat. I eat what I kill. So, it’s important that the environment be clean. But, I can’t live off meat and veggies that I kill / forage.

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this post was submitted on 02 Dec 2023

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