In the NewsNew York TimesAugust 23, 2018
Trump Put a Low Cost on Carbon Emissions. Here’s Why It Matters.
How much economic damage will global warming cause? That’s one of the key questions embedded in the Trump administration’s recent proposals to weaken Obama-era regulations on greenhouse gas emissions from both vehicles and power plants. Most experts agree that the social cost of carbon can be improved by taking into account newer scientific and economic research. “There’s been an explosion of research on the impacts of climate change in recent years, and it hasn’t been fully reflected in the estimates,” says Michael Greenstone, an economist at the University of Chicago who helped craft the Obama administration’s original numbers, and co-director of the Lab. This story cites the Lab's research on projected heat deaths from global warming as well as the costs of adapting to higher temperatures, such as buying more air-conditioners. That study concluded that these new estimates could add significantly to the social cost of carbon.