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Regulatory Impact Analysis: Development of Social Cost of Carbon Estimates
J. Alfredo Gomez (au)
Executive Order 12866 directs federal agencies to assess the economic effects of their proposed significant regulatory actions, including a determination that a regulation's benefits justify the costs. In 2008, a federal appeals court directed the Dept. of Transportation (DOT) to update a regulatory impact analysis with an estimate of the social cost of carbon -- the dollar value of the net effects (damages and benefits) of an increase in emissions of carbon dioxide, a greenhouse gas. In 2009, the Interagency Working Group on Social Cost of Carbon was convened to develop estimates for use governmentwide, and it issued final estimates in its 2010 Technical Support Document. In 2013, the group issued revised estimates that were about 50% higher than the 2010 estimates. This report reviewed the working group's development of social cost of carbon estimates. It describes the participating entities and processes and methods they used to develop the 2010 and 2013 estimates. Tables. This is a print on demand report.
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