Great Reset: Biden Hikes Cost Of Carbon Emissions By Over 600%

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Humans are carbon-based life forms and they live in a carbon-based world while using carbon-based sources of energy to build a carbon-based economy. The Great Reset/Green New Deal, aka Technocracy, is anti-human and anti-civilization. ⁃ TN Editor

The social cost of carbon could have ripple effects throughout industry.

President 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 of carbon released into the atmosphere — is well above the $8 cost used under former President Donald Trump, who declined to factor the global impacts of climate pollution into his calculation. It’s on par with a price based on analyses undertaken between 2010 and 2016 under former President Barack Obama, whose administration was first to calculate the figure known as the social cost of carbon.

The price point is temporary. A new Interagency Working Group on the Social Cost of Greenhouse Gases is required to issue a final number by January.

“A more complete update that follows the best science takes time. This is why we are quickly restoring the prior estimates as an interim step,” Heather Boushey, a member of the Council of Economic Advisers, wrote in a blog post.

The social cost of carbon is an effort to quantify the economic and societal damage from greenhouse gas emissions in the coming decades. The figure will be baked into the administration’s number-crunching on the costs and benefits of a wide array of regulations.

Friday’s notice, posted on the Office of Management and Budget website, fulfills a promise Biden made on Inauguration Day when he signed an executive order on climate change that called for a recalculation of the social cost of carbon, which the Trump administration had sharply reduced.

The new price per ton is accompanied by discount rates of 2.5 percent, 3 percent and 5 percent, numbers that express the weight of future benefits against immediate ones. A higher discount rate suggests society cares less about long-term consequences than present-day effects. Environmental activists and economists had urged Biden to lower the 3 percent discount rate set by Obama.

Trump had bumped the discount rate up to to 7 percent. When the Obama team modeled its estimates in 2016, a 3 percent discount rate carried a $42 per ton price. A 2.5 percent discount rate pushed the cost to $62 per ton.

About the Author

Patrick Wood
Patrick Wood is a leading and critical expert on Sustainable Development, Green Economy, Agenda 21, 2030 Agenda and historic Technocracy. He is the author of Technocracy Rising: The Trojan Horse of Global Transformation (2015) and co-author of Trilaterals Over Washington, Volumes I and II (1978-1980) with the late Antony C. Sutton.
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justsayin

Gollie what are they going to do with all that money?! Because all that money will not change a thing. They are thieves, robbers, liars. More exactly, “THIS know also, that in the last days perilous times shall come. For men shall be lovers of their own selves, covetous (greedy), boasters, proud, blasphemers, disobedient to parents, unthankful, unholy. Without natural affection, trucebreakers, false accusers, incontinent, fierce, despisers of those that are good, traitors, heady (reckless, thoughtless) , high minded, lovers of pleasures more than lovers of God.” 2 Timothy 3:1-4. Just watch the so called leaders of this county! Trillions… Read more »

Alex

There should be a corresponding analysis by a group within Patrick Woods follows of the cost impact of compliance with the carbon mandates on : farm produce , transportation , utilities cost , etc. for the USA ( and per family ) , INDEPENDENT of lying gov’t bureaucratic analyses !

h5mind

My guess is the societal and economic cost to “saving” the world fro carbon will be equal to or greater than the Covid lockdown debacle.

Goodness shall prevail

The carbon emission green house gas pollution pseudoscience is nothing other than a SCAM. The scam is obviously designed to make life impossible for small independent farmers and their livelihoods regarding food production,that matters not just for the farmers but for everyone else that seeks good nutrition They want independent food production to end, farmers and people to be forced out of rural areas into closed down surveillance living centres. They then will control food production for everyone and will make food GMO’s. God only knows what they will try to feed you, but you can be sure, it won’t… Read more »

Corona Coronata

Dr. Shiva made a very good video explaining this monster fraud: Who profits from \”climate change\”? – https://www.youtube.com/watch?v=-0Rtystv7dc

Brad

The whole idea behind the great [sic] reset is to usher in the fourth revolution. The greater part of the fourth revolution is lower the numbers of troublesome carbon based humans, replace them as much as possible with strong AI robots and fundamentally change the remaining carbon based humans into silicon based humans 2.0.

[…] Read More: Biden Hikes Cost Of Carbon Emissions By Over 600% […]

S Big

These people have gone absolutely nuts charging for something that doesn’t exist. The lie of the century! Just another way to break the backs of Americans and our dollar. How many people out there actually believe their nonsense? Most kids of my era learned in school (when we still had real education) the basics of photosynthesis! Plants live on CO2 and if it didn’t exist all our “green” plants, tree and grasses would not live! Parents, take your children out of the government schools! Education has not been in the business of teaching valid knowledge but in the business of… Read more »

Jim Reinhart

I told a former 68 yo farmer that cows were a major cause of global warming and that we could not eat beef anymore. He has been laid up in bed for a while after a stroke but that made him laugh so hard he was practically in tears as to how stupid a statement it is. How do people take such crackpot statements as gospel I have no idea.

Bert33

China don’t care and China is big and strong enough to tell the european greenwashers where to stuff it. Also, when the Iceland volcano goes and turns the skies over europe black and full of silicate ash, they will finally have the long-awaited bureaucrat die-off, and we in the US won’t have to listen to any more of their @#$%. 🙂

TRACY bLEVINS

The “new normal” is carbon for the wealthy. Mr Bill gates has a 66,000 sq ft Mansion, multiple cars and two private jets. People like him will not “cut” back…because they are wealthy and a carbon tax is no deterrent to them. Carbon taxes will make energy unaffordable to the non wealthy. Pretty slick, the way they lower your standard of living while preserving their excess. Gates has the carbon footprint of a small city…but since he is super rich…he dont have to cut back. Its like saying “you are killing the planet” but its ok to kill the planet… Read more »

h5mind

Gates has joked the only way to “balance the carbon equation” is to eliminate virtually all humans. Oh, look, he also spent billions developing vaccines! What an amazing coincidence.