Obama Quietly Raises ‘Carbon Price’ as Costs to Climate Increase
Buried in a little-noticed rule on microwave ovens is a change in the U.S. government’s accounting for carbon emissions that could have wide-ranging implications for everything from power plants to the Keystone XL pipeline.
The increase of the so-called social cost of carbon, to $38 a metric ton in 2015 from $23.80, adjusts the calculation the government uses to weigh costs and benefits of proposed regulations. The figure is meant to approximate losses from global warming such as flood damage and diminished crops.
Nobel Prize winners urge Obama to back carbon pricing
A group of leading economists, including eight Nobel Prize winners, has written to U.S. President Barack Obama urging him to support a carbon price on aviation.
An EU law requiring all aircraft using EU airports to pay for emissions via the bloc’s Emissions Trading Scheme (ETS) last year stirred international outcry and threats of a trade war.
Obama Energy nominee: Triple price of carbon to push clean energy
President Barack Obama’s nominee to head the Energy Department said the U.S. should put a price on carbon dioxide emissions to push more clean=energy use in the country.
The Washington Examiner reported that MIT professor Ernest Moniz said putting a price on carbon would be necessary to double or even triple the price of carbon, which would push the U.S. to use more clean energy technologies and increase energy security.