https://www.washingtonpost.com/climate-environment/2022/02/21/social-cost-of-carbon-biden By Maxine Joselow , The Washington Post.  Excerpt: A recent court ruling that bars the Biden administration from accounting for the  real-world costs of climate change  has created temporary chaos at federal agencies, upending everything from planned oil and gas lease sales to infrastructure spending. The  Feb. 11 decision  by a Louisiana federal judge blocked the Biden administration from using a higher estimate for   the damage that each additional ton of greenhouse gas pollution causes society. This formula, called   the social cost of carbon, applies to   consequential decisions affecting fossil fuel extraction on public lands, infrastructure projects and even international climate talks. ...President Biden last year directed federal agencies to applyan interim social cost of carbon of $51 per ton — the figure used under former president Barack Obama — wh...

https://www.sciencemag.org/news/2021/01/trump-downplayed-costs-carbon-pollution-s-about-change Source: By  Paul Voosen , Science Magazine.  Excerpt: Carbon pollution is about to get a lot more expensive. Over the past 4 years, the Trump administration low-balled the “social cost of carbon”—a number representing the burden that carbon emissions place on present and future generations, in terms of the cost of floods, droughts, farming losses, and death. The low estimate served to justify a permissive approach to regulating greenhouse gases, whether through power plant emissions rules or appliance efficiency standards. But now the cost—the price per ton of emitted carbon dioxide  (CO 2 )   methane, and nitrous oxide—is set to rise drastically. On 20 January, its first day in office, the Biden administration recreated an interagency working group (IWG) and  ordered it to update  the social cost of carbon within 30 days. Many economists believe the cost, set ...