Guest Post by Willis Eschenbach
I see that Andrew Revkin continues to try to keep the climate pot bubbling. In this case, he’s issued dire warnings about reducing the so-called “Social Cost of Carbon” (SCC). He starts by defining the SCC
This value is the government’s best estimate of how much society gains over the long haul by cutting each ton of the heat-trapping carbon-dioxide emissions scientists have linked to global warming.
Currently set at $36 per ton of carbon dioxide, the metric is produced using a complex, and contentious, set of models estimating a host of future costs to society related to rising temperatures and seas, then using a longstanding economic tool, a discount rate, to gauge how much it is worth today to limit those harms generations hence. (For context, the United States emitted about 5.1 billion tons of CO2 in 2015, out of a global total of…
View original post 1,994 more words