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Mon, 2015-01-19 11:46Mike Gaworecki
Mike Gaworecki's picture

Social Cost Of Carbon Drastically Underestimated: Report

The U.S. government could be drastically underestimating how much climate change is going to cost us, according to a study published by Stanford researchers in the journal Nature Climate Change.

The researchers concluded that the Obama Administration is using a Social Cost of Carbon estimate that may be just one-sixth of the true cost—and that the true cost is high enough to justify aggressive measures for lowering emissions enough to limit global temperature rise to the 2 degrees Celsius that scientists tell us is the threshold for averting catastrophic climate change.

The Social Cost of Carbon is an official estimate of how much economic damage will be caused per metric ton of carbon emitted into our atmosphere—damages like lower crop yields and higher healthcare costs. It is used by the EPA and other federal agencies to calculate the benefits of policies intended to improve energy efficiency, lower emissions, and combat climate change. It is also often used to justify not taking action if the proposed action would cost more than the damage it is intended to mitigate.

The Obama Administration raised its official estimate of the economic cost of a metric ton of CO2 from $21 to $37 in November 2013. Even back then, however, many experts challenged that estimate as far too low.

According to the team at Stanford, that estimate was way too low—they calculate the true Social Cost of Carbon as $220 per metric ton.

Fri, 2014-02-14 12:40Sharon Kelly
Sharon Kelly's picture

New Study Shows Total North American Methane Leaks Far Worse than EPA Estimates

Just how bad is natural gas for the climate?

A lot worse than previously thought, new research on methane leaks concludes.

Far more natural gas is leaking into the atmosphere nationwide than the Environmental Protection Agency currently estimates, researchers concluded after reviewing more than 200 different studies of natural gas leaks across North America.

The ground-breaking study, published today in the prestigious journal Science, reports that the Environmental Protection Agency has understated how much methane leaks into the atmosphere nationwide by between 25 and 75 percent — meaning that the fuel is far more dangerous for the climate than the Obama administration asserts.

The study, titled “Methane Leakage from North American Natural Gas Systems,” was conducted by a team of 16 researchers from institutions including Stanford University, the Massachusetts Institute of Technology and the Department of Energy’s National Renewable Energy Laboratory, and is making headlines because it finally and definitively shows that natural gas production and development can make natural gas worse than other fossil fuels for the climate.

The research, which was reported in The Washington Post, Bloomberg and The New York Times, was funded by a foundation created by the late George P. Mitchell, the wildcatter who first successfully drilled shale gas, so it would be hard to dismiss it as the work of environmentalists hell-bent on discrediting the oil and gas industry.

Mon, 2008-03-10 11:13Bill Miller
Bill Miller's picture

Highway dustup in British Columbia highlights gap between talk and action on climate change

One only has to go a few miles northwest of B.C.’s capital in Victoria to see what governments are really doing about global warming.

While provincial Finance Minister Carole Taylor was finalizing her “go green” budget, governments at the federal, provincial and local level were taking steps that guarantee sprawl, gridlock and greenhouse emissions will continue to spiral.

Tue, 2007-04-17 03:00Jim Hoggan
Jim Hoggan's picture

New analysis: Chinese and Saudi Diplomats Water Down Global Warming Estimates

This is a DeSmogBlog release sent out to media this morning:

ANALYSIS OF LEAKED DOCUMENTS SHOWSINAPPROPRIATE AND UNJUSTIFIEDPOLITICAL INTERFERENCE IN CLIMATE CHANGE REPORT

Chinese and Saudi Diplomats Water Down Global Warming Estimates

Go here for the full release and a copy of the analysis report.

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