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.

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