U.S. EPA Says ‘Social Cost’ of Carbon Nearly Four Times Higher Than Biden Estimate

The U.S. EPA has proposed a new estimate for the “social cost” of carbon emissions that would nearly quadruple an interim figure that has already drawn legal challenges from Republican-led states, according to E&E News.

The Biden administration has been using $51 per metric ton of CO2, well above the $8 used by the Trump administration. The U.S. EPA proposes increasing that figure to $190 — a move that would significantly impact the executive branch’s costs-and-benefits analysis of federal regulations.

As explained last year by Politico, while the administration’s social cost of carbon has no immediate effect on corporations, it is likely to influence business activity across industries, including manufacturing. States, municipalities, and other governing bodies also could incorporate the federal number into their decision-making. 11/21/2022