Lorraine Woellert
Lorraine Woellert
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Biden hikes cost of carbon, easing path for new climate rules

Biden hikes cost of carbon, easing path for new climate rules

The social cost of carbon could have ripple effects throughout industry.President Joe Biden delivers remarks in the East Room of the White House. | Anna Moneymaker-Pool/Getty ImagesPresident Joe Biden on Friday restored an Obama-era calculation on the economic cost of greenhouse gases, a step that will make it easier for his agencies to approve aggressive actions to confront climate change.But the administration stopped short, for now, of boosting the cost figure to higher levels that economists and climate scientists say are justified by new research.The interim figure — $51 for every ton...

February 26, 2021
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