The Social Cost of Carbon Laser Talk

The social cost of carbon (SCC) is important because it is used in the cost/benefit analysis for setting regulations. So, the recent ~60% increase in the social cost of carbon [1, 2] will mean that some EPA regulations will have more benefits than costs, and are thus more likely to be implemented, helping to reduce US emissions of greenhouse gases.

While important for the calculus of regulations, this change does not have much impact on our thinking for what price a carbon tax should be set at.

  1. David Roberts. “The Obama climate move that nobody noticed”. June 5, 2013. Grist.com.
  2. Interagency Working Group on Social Cost of Carbon, United States Government. “Technical Support Document: – Technical Update of the Social Cost of Carbon for Regulatory Impact Analysis – Under Executive Order 12866”. May 2013.

 

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The Social Cost of Carbon,
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