"Three months ago, the Obama administration made a little-noticed but potentially pivotal move in the stepped-up fight against climate change: it boosted the U.S. government's official estimate of the future economic damage caused by carbon pollution."
"After its first review, a panel of technical experts from 11 government agencies raised the so-called "social cost of carbon," known as SCC. The measure is used by many arms of the U.S. government to determine the financial benefits of new regulations since 2010.
The new 2020 forecast of $43 a ton was a 58 percent jump from the previous estimate, made in 2010. The issue is to be reviewed biannually.
The move should make it much easier for the Environmental Protection Agency and other federal bureaus to enact tougher measures to crack down on emissions by showing that the greater benefits of such measures will justify their costs."
Valerie Volcovici reports for Reuters August 21, 2013.
SEE ALSO:
"GAO To Review How Administration Developed 'Social Cost' of Carbon" (RegWatch/The Hill)
"Conservatives Seek To Block Microwave Oven Rule Over ‘Social Cost of Carbon’" (E2 Wire/The Hill)
"How Last Week’s Hearing On The Social Cost Of Carbon Put Right-Wing Objections To Bed" (Climate Progress)
"A Conservative Legal Group Is Petioning The Energy Department To Rethink The Social Cost Of Carbon" (Climate Progress)
"Technical Support Document: Technical Update of the Social Cost of Carbon for Regulatory Impact Analysis Under Executive Order 12866" (White House)
"The Social Cost of Carbon" (EPA)
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