Asian Spectator

What is the ‘social cost of carbon’? 2 energy experts explain after court ruling blocks Biden's changes

  • Written by Jim Krane, Fellow for Energy Studies, Baker Institute for Public Policy; Lecturer, Jones Graduate School of Business at Rice University
What is the ‘social cost of carbon’? 2 energy experts explain after court ruling blocks Biden's changesThe Capitol Power Plant, which uses fossil fuels.AP Photo/Carolyn Kaster

When an electric company runs a coal- or natural gas-fired power plant, the greenhouse gases it releases cause harm – but the company isn’t paying for the damage.

Instead, the costs show up in the billions of tax dollars spent each year to deal with the effects of...

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