Source: American Thinker
by Fred Singer
Nothing wrong with cost-benefit analysis – but it should not be misused to support ideological goals.
Using Executive Order 12866 (Regulatory Planning and Review, issued by President Bill Clinton back in 1993), the White House Office of Management and Budget (WH-OMB) has published numerical estimates for the ‘Social Cost of Carbon’ (SCC). In Public Comments, we have challenged these OMB numbers in three respects: use of outdated climate science; internal inconsistency; omission of CO2 benefits. These miscalculations — whether politically inspired or innocently overlooked — could end up costing the American public hundreds of billions in higher dollar costs, as well as millions of lost jobs. (more…)