Climate change is a market failure

In a February 14, 2017  post, Carbon Brief blog says “Climate change is a classic market failure. The costs of burning CO2 are borne by society at large, but the benefits accrue to those burning fossil fuels.”  The Social Costs of Carbon (SCC) are currently set by the EPA at $37 a ton.

Just what those costs are was the subject of a hearing by the House Committee on Science, Space, and Technology on Feb. 28.  Read about it here in the Guardian.

 

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