US House Votes Down Social Cost of Carbon

The House GOP on Friday took a step forward in reining in the Obama administration’s method of assessing the cost of carbon dioxide pollution when developing regulations.

The House voted 212-201, along party lines, to include a rider blocking the use of the climate change cost metric to an energy and water spending bill.

The amendment offered by Texas Republican Rep. Louie Gohmert bars any and all funds from being used under the bill to “prepare, propose, or promulgate any regulation that relies on the Social Carbon analysis” devised under the Obama administration on how to value the cost of carbon. (Source Washington Examiner, here)

To clarify: the amendment in question defunds any regulation or guidance from the federal government concerning the social costs of carbon.

Background: 
The Obama administration created and increased its estimates of the “Social Cost of Carbon,” invented by Michael Greenstone, who commented on the EPA Proposed Repeal of CO2 emissions regulations.  A Washington Post article, October 11, 2017, included this:

“My read is that the political decision to repeal the Clean Power Plan was made and then they did whatever was necessary to make the numbers work,” added Michael Greenstone, a professor of economics at the University of Chicago who worked on climate policy during the Obama years.

Activists are frightened about the Clean Power Plan under serious attack along three lines:
1. No federal law governs CO2 emissions.
2. EPA regulates sites, not the Energy Sector.
3. CPP costs are huge, while benefits are marginal.

Complete discussion at CPP has Three Fatal Flaws.

Read below how Greenstone and a colleague did exactly what he now complains about.

Full post

via The Global Warming Policy Forum (GWPF)

https://ift.tt/2JtTWQ9

June 10, 2018 at 02:43AM

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