The cost of CO2 per ton?
Giving in to demands from the oil industry, business groups and their allies on Capitol Hill, the Obama administration on Tuesday formally released the calculations behind its new estimate of the social costs tied to emitting carbon dioxide.I think the effects of CO2 emissions are generally overstated. When it comes to agricultural productivity the emissions are a benefit because the CO2 is a feed stock of plant growth. Satellite photos of earth show it greener than at anytime in the last 30 years. It should also be difficult to say that the emissions harm human health since we all exhale CO2. The atmosphere does not appear to be choking us. I also am dubious about any direct correlation to flooding or droughts. I get the impression that some are trying to stampede people into approving their control freak agenda.
The public now has 60 days to look at the data and weigh in on the new metric, which is used to evaluate the cost and benefits of proposed regulations. The deadline for submitting comments is Jan. 27.
The once little-known calculation aims to put a price tag on damage from emitting a ton of greenhouse gases, including lost agricultural productivity, human health impacts and more floods. A government working group in May bumped up the price tag to $38 per ton in 2015, up from a 2010 estimate of $23.80 — a decision that ultimately could lift the projected economic benefits of proposed environmental regulations.
Lawmakers who wanted more sunlight on the social cost of carbon calculations praised the White House for opening the documents but said the public needs more time to vet them.
In a letter set to be sent to the Office of Management and Budget later today, more than a dozen lawmakers are asking for a 120-day comment period — a time “long enough for stakeholders to provide meaningful comments.”