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Wednesday, June 12, 2013

Obama Surreptitiously Raises the "Cost" of Carbon

Federal regulations that purport to measure the benefits of pollution controls or environmental initiatives based on reducing carbon, or, on the flip-side, attempt to predict the "environmental cost" of a project, use a carbon cost developed by the government. Until recently, this cost was $23.80 per metric ton. Now, buried in new regulations on microwave ovens, the Federal government has noted that the cost will be $38 per metric ton in 2015. The result is that questionable and marginal improvements in pollution controls will have their benefits exaggerated, while energy production projects, such as new oil or gas drilling, or the Keystone pipeline, will have their "environmental cost" exaggerated. What's more, environmentalists want the costs to be raised further. The Natural Resource Defense Counsel says the "cost" could be $266 per metric ton.

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