Source: Global Warming.org
by Marlo Lewis
In a new report, Heritage Foundation analysts Kevin Dayaratna and David Kreutzer examine the Dynamic Integrated Climate-Economy, or DICE, model — one of three computer programs the EPA uses to calculate the social cost of carbon (SCC).
The SCC is an estimate of how much damage an incremental ton of carbon dioxide (CO2) emissions allegedly does to the economy over time periods as long as 300 years. The model examined by the Heritage analysts is called Dynamic Integrated Climate-Economy, or DICE. Dayaratna and Kreutzer find that DICE is “flawed beyond use for policymaking.” Fittingly, they title their report: Loaded DICE: An EPA Model Not Ready for the Big Game.
They find that DICE estimates “shift substantially with reasonable alternatives to just a few assumptions” made by the EPA. Specifically: (more…)