The Social Cost of Carbon and Carbon Taxes “Pick a number, any number”

From the Executive Summary Leaving aside its scientific and economic uncertainties, the government’s Social Cost of Carbon is so sensitive to input assumptions that small, quite reasonable variations can produce almost any price you wish. As a result it is not a suitable tool for guiding public policy, including taxes on energy.  The U.S. Government 

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What’s the “Social Cost of Carbon?”

By Shawn Ritenour When President Barack Obama wanted to curtail carbon dioxide emissions, he instructed his economic advisors to construct a way to calculate the emissions’ effect on society. The metric thus adopted by the EPA is called the “social cost of carbon” (SCC). Right from the start we should note an important distinction: Carbon 

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Beware EPA ‘Social Cost of Carbon’ Models

By Shawn Ritenour “Wouldn’t it be nice if we could scientifically determine the cumulative costs or benefits that result over the next three hundred years from our choices in the present? It may be nice, but it is impossible. ” “Because [mainstream climate] models produced such wildly different results depending on the projections and assumptions 

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Prepublication Valuing Climate Damages: Updating Estimation of the Social Cost of Carbon Dioxide (2017)

Contributors National Academies of Sciences, Engineering, and Medicine; Division of Behavioral and Social Sciences and Education; Board on Environmental Change and Society; Committee on Assessing Approaches to Updating the Social Cost of Carbon Description The social cost of carbon (SC-CO2) is an economic metric intended to provide a comprehensive estimate of the net damages – 

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Rethinking the Social Cost of Carbon

By Judith Curry The Social Cost of Carbon is emerging as a major source of contention in the Trump Administration. Andy Revkin has an article summarizing the issue:  Will Trump’s climate team accept any social cost of carbon?  Excerpts: But there’s probably no more consequential and contentious a target for the incoming administration than an 

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Discussion thread – Social Cost of Carbon

By David Wojick The Social Cost of Carbon is absurd but entrenched. The monster of all climate modeling efforts is the so-called Social Cost of Carbon (SCC). This involves what are called Integrated Assessment Models or IAMs. These models reflect the fact that, from a policy standpoint, the issue of climate change is simply an 

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