In the NewsAP NewsFebruary 23, 2022

As climate change costs mount, Biden seeks to price damages

With much of Biden’s climate agenda stalled in Congress, the issue could take center stage if the administration uses executive branch rules to limit industry emissions, said Michael Greenstone, former chief economist for the White House Council of Economic Advisers. “Climate science and climate economics have advanced rapidly,” said Greenstone, who helped establish the Obama carbon cost and argued in court to apply it at Spring Creek. He believes a major cost increase is warranted. “It would be easy to justify a value of around $200-a-ton that would represent the frontier of our understanding.”