GAO: Trump lowballed climate change
WASHINGTON — A federal report released Tuesday found that the Trump administration set a rock-bottom price on the damages done by greenhouse gas emissions, enabling the government to justify the costs of repealing or weakening dozens of climate change regulations.
The report by the Government Accountability Office, Congress’ nonpartisan investigative arm, said the Trump administration estimated the harm that global warming will cause future generations to be seven times lower than previous federal estimates. Reducing that metric, known as the ‘‘social cost of carbon,’’ has helped the administration massage cost-benefit analyses, particularly for rules that allow power plants and automobiles to emit more planet-warming carbon dioxide.
Critics described the Trump administration’s move as turning a deliberate blind eye to the dangers of climate change.
‘‘Climate change is a massive threat to our economy. That threat will only grow in years to come, even if we take the action necessary to avoid the worst effects of climate change,’’ said Sen. Sheldon Whitehouse of Rhode Island, one of eight Democrats who requested the review.
The White House did not respond to a request for comment.
Every ton of carbon dioxide released into the atmosphere imposes a cost on the economy, whether from damage to infrastructure from sea level rise and heat waves or harm to public health. But calculating the price of that damage has been economically challenging and politically contentious.
Conservatives have argued that the valuation serves to make big energy projects look bad and lays the foundation for burdensome and costly industry regulations. Many Republicans said that the Obama administration’s estimates — which in 2016 determined the social cost of carbon to be about $50 a ton by 2020 — were unrealistic and intentionally onerous.
When the Trump administration put forward its own rules to regulate emissions from power plants and vehicles, it estimated the cost of climate damages between $1 and $7 per ton of carbon.
Meanwhile, presumptive Democratic presidential nominee Joe Biden released a plan Tuesday aimed at combating climate change and spurring economic growth in part by overhauling America’s energy industry, with a proposal to achieve entirely carbon pollution-free power by 2035.
The plan reflects ideas embraced by some of Biden’s more progressive allies during the primary, like Jay Inslee. The Washington governor first proposed achieving entirely carbon-free electricity by 2035.
Biden pledges to spend $2 trillion over four years to promote his energy proposals, a significant acceleration of the $1.7 trillion over 10 years he proposed spending in his climate plan during the primary.
The proposal doesn’t include specifics on how it would be paid for. Campaign officials who requested anonymity said it would require a mix of tax increases on corporations and the wealthy and deficit spending aimed at stimulating the economy.
The proposal doesn’t address the controversial natural gas and oil extraction process known as fracking. The issue is politically sensitive in some key battleground states such as Pennsylvania. During the primary, some Democrats proposed an outright ban while Biden limited his opposition to new fracking permits.
Biden’s plan places an emphasis on updating America’s infrastructure, and includes investments in energy efficiency in buildings and housing as well as promoting conservation in the agriculture industry.
Information from The Associated Press was included in this story.