EPA has proposed a new estimate for the social cost of carbon emissions, nearly quadrupling the $51 a ton to $191 a ton. It has already drawn legal challenges from a host of Republican-led states.
It will correspond to a $ 2-a-gallon gas tax.
They just fudge the numbers to justify it.
The metric puts a price tag on the alleged damages created by each metric ton of greenhouse gas emissions.
Agencies can then use it as part of their analyses of the costs and benefits of more stringent climate regulation on sources ranging from power plants and automobiles to the oil and gas sector.
The Biden administration has used the Interagency Working Group’s interim value of $51 per metric ton of CO2. But earlier this month, EPA quietly proposed increasing that number to $190.
The administration’s use of the IWG’s interim social cost of greenhouse gases has been challenged in parallel lawsuits led by Louisiana Attorney General Jeff Landry and Missouri Attorney General Eric Schmitt, both Republicans.
That document estimates the social cost of carbon as $120, $190, or $340 per metric ton of CO2, using discount rates of 2.5 percent, 2.0 percent, and 1.5 percent, respectively. Such rates reflect the weight given to future impacts of climate change.
These are all computer-generated impacts. They’re as good as any fiction the Left comes up with.
The taxes will go to Third World countries run by thugs as we take in all the people from these countries. That’s quite the recipe.
As an aside, the Department of Energy just refused to turn the Palisades nuclear plant in Michigan back into service. After all, we wouldn’t want clean energy, especially energy that would allow us to return to reasonable energy costs.