President Barack Obama approved an increase in the so-called “social cost of carbon” calculation to $38 a metric ton. This number is used by government bureaucrats to weigh the cost and benefit of proposed projects, regulations and environmental laws; all without the hassle of actually understanding economics
Average planetary temperatures haven’t budged in 16 years. Hurricanes and strong tornadoes are at or near their lowest ebb in decades. Global sea ice is back to normal, while the Antarctic icepack continues to grow. The rate of sea level rise remains what it was in 1900.
All of these projects would be great if they were a better mouse trap; if they were cheaper, more reliable and better land use. But they are not. They are more expensive, less reliable and use more land (or water).
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