New Cost of Carbon Measurement Under Scrutiny
Posted at 10:30 a.m. on Aug. 20
“The investigative arm of Congress is going to look into how the Obama administration developed its increased monetary estimate for the amount of damage caused by carbon pollution,” The Hill reports.
“The Government Accountability Office (GAO) has agreed to a request from three Republican lawmakers to look into the way that the administration came up with the metric… Dubbed the ‘social cost’ of carbon, the value is used when writing regulations to determine the effect of carbon pollution on the environment, public health, agriculture and other areas.”
“Increasing the value from $21 to $35 per metric ton, as the administration has done, will dramatically increase the projected benefits from new rules that clamp down on air pollution.”