EPA quietly pushes expensive carbon tax
Climate reparations an attempt to bribe smaller countries: Mandy Gunasekara
Former EPA chief of staff Mandy Gunasekara shares her thoughts on Biden agreeing to fund climate reparations on ‘Fox Business Tonight.’
The Environmental Protection Agency has proposed a significant increase in the social cost of carbon emissions.
Policymakers use the social cost of carbon to calculate economic damages associated with a rise in greenhouse gas emissions from burning fossil fuels.
FILE: Emissions rise from the BP Plc Whiting Refinery in Whiting, Indiana, on Sunday, Oct. 10, 2021. (Luke Sharrett/Bloomberg via Getty Images / Getty Images) Federal agencies under the Biden administration have been using a value of $51 per metric ton of CO2 – which in itself was a steep climb from the Trump administration’s $1 per metric ton. Now the EPA is proposing to go even higher, at $190 per metric ton. Among other effects, raising this cost is likely to raise the prices at the gaspump. ENERGY GROUP ISSUES ROADMAP FOR HOUSE REPUBLICANS TO BOOST US ENERGY SECURITY The EPA floated the new metric before a proposal from the Interagency Working Group, which helps coordinate the federal government’s approach to calculating the metric. In the September draft proposal, the agency concluded that the $190 per metric ton would necessarily climb to $410 in 2080 by the year 2080. It also included proposed methane regulations, pegging methane at $1,600 per ton. Still, the proposal for a drastic increase likely won’t be implemented any time soon. CLICK HERE TO GET THE FOX BUSINESS APP The United Nations’ new climate chief, Simon Stiell, recently told The Associated Press that he would settle for a lack of new emissions-cutting action, given an energy crisis in Europe and progress made in helping climate victims. The Associated Press contributed to this report. Source: Read Full Article