The Obama administration's latest, greatest weapon to prosecute its war
on global warming is something called the "social cost of carbon." It is
an instrument honed on ill-founded climate alarm and is readily blunted
in the face of the best science.
The social cost of carbon is supposed to be a complete accounting of the market externalities, both positive and negative, resulting from carbon dioxide emissions released by burning fossil fuels like coal, oil, or natural gas.
But as its name implies, the government's accounting of the social
cost of carbon focuses almost entirely on conjured "costs" while
ignoring proven "benefits" of carbon dioxide emissions."
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