The New Social Cost of Carbon
The Social Cost of Carbon is a dollar figure, which measures the damage caused from one more ton of the greenhouse gas CO2 emitted. The federal government uses this number in benefit cost analysis to evaluate new regulations. The current administration has dropped this number from $42 to a range of $1–$7. This has significant consequences for environmental policy.
Maximilian Auffhammer. 2018. "The New Social Cost of Carbon." ARE Update 22(2): 1-3. University of California Giannini Foundation of Agricultural Economics.