Energy and Climate Report provides current, thorough coverage of clean energy, efficiency, and climate change legislation, regulation, policy, legal developments, and trends in the U.S. and...
Sept. 9 --Seven industry and business groups have petitioned the White House to withdraw its figure on the social cost of carbon and repeat its analysis through a publicly transparent process.
The White House Office of Management and Budget should refrain from using the newly revised social cost of carbon figure to evaluate the climate change impact of federal regulations until it has been vetted through an open and transparent process and any uncertainties in the modeling used have been discussed, the petition said.
The industry groups petitioned OMB under the Information Quality Act to correct both the 2010 and 2013 social cost of carbon estimates, calling the process to develop the figures “opaque.”
“OMB has not revealed the identity of the participants or any information from which to make an assessment as to the participants' expertise or their qualification to participate in a group tasked to estimate” the social cost of carbon, the petitioners said.
The Sept. 3 petition was signed by the America's Natural Gas Alliance, American Chemistry Council, American Petroleum Institute, National Association of Home Builders, National Association of Manufacturers, Portland Cement Association and the U.S. Chamber of Commerce.
OMB could not be reached for comment.
A federal interagency working group in May increased the social cost of carbon figure that federal agencies will use to evaluate the climate change impact of their actions to $38 per metric ton at a 3 percent discount rate in 2007 dollars for the year 2015. That is up from the previous estimate of nearly $24 per ton that was issued in 2010.
The working group included representatives from the Environmental Protection Agency, Transportation Department, Office of Management and Budget, Council of Economic Advisers, Council on Environmental Quality, and other federal agencies. The working group said the estimate was increased as a result of improvements in the models used (106 ECR, 6/3/13).
Although the three models used to develop the social cost of carbon figure have been peer-reviewed, the industry groups said the federal working group has not disclosed the assumptions it used to guide its modeling or weight the various inputs.
“Other than for a few of the hundreds of variables that comprise the input data set for the three models used, the public has no idea of what the inputs are or how they were determined,” the petition said.
The three models produced a range of estimates for the economic and social impact of carbon dioxide emissions. The estimates varied from a low of $21 per ton to as a high as $71 per ton. The petitioners said the broad range produced emphasizes the need for the working group to publicly disclose the inputs used to derive the social cost of carbon figure and how each input was weighted.
“The [interagency working group] has failed to disclose and quantify key uncertainties and to fully inform decision makers and the public of those uncertainties as required by OMB,” the petition said.
During a July 18 hearing, the House Oversight and Government Reform Subcommittee on Energy Policy, Health Care, and Entitlements examined the process used to develop the social cost of carbon figure. Subcommittee Chairman James Lankford (R-Okla.) and ranking Democrat Rep. Jackie Speier (D-Calif.) asked OMB to provide additional information about the process used to develop the estimate in an Aug. 20 letter (162 ECR, 8/21/13).
To contact the reporter on this story: Andrew Childers in Washington at email@example.com
To contact the editor responsible for this story: firstname.lastname@example.org
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to email@example.com.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to firstname.lastname@example.org.
Put me on standing order
Notify me when new releases are available (no standing order will be created)