Trump downplayed the cost of carbon. That’s about to change

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Trump downplayed the cost of carbon. That’s about to change
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Summary

Over the past 4 years, the Trump administration low-balled the “social cost of carbon”—a number representing the burden of carbon emissions on present and future generations, in terms of the cost of floods, droughts, farming losses, and death. The low estimate served to justify permissive regulations for greenhouse gas emissions. But now, thanks to the new Biden administration, the cost—the price per ton of emitted carbon dioxide, methane, and nitrous oxide—is set to rise radically, and could rise, on an interim basis, up to $125. By next year, a final figure is due, and it will build on a host of recent research improving estimates of population growth and the damage done by global warming, among other factors.

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