April 2, 2014
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Omitted Damages: What’s Missing from the Social Cost of Carbon
On March 13, we published jointly with the Environmental Defense Fund and the Natural Resources Defense Council a report by Peter Howard, our Economics Fellow. Howard examines the models used by the government to estimate the social cost of carbon, which is the harm caused by one ton of carbon dioxide emissions. He finds that the government’s estimate relies on studies that omit many important damages. These omissions result in an underestimation of the damages of carbon pollution and a too-low value on climate action.
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In the News: The price of ignoring climate change is far higher than we think
Media coverage of our new report on the social cost carbon estimate includes an article by Fast Company. Policy Integrity Director Richard Revesz is quoted as saying that while the debate over the too-low estimate seems obscure, it could have an effect on hundreds of rules set by the federal government. Of course there’s uncertainty in estimating figures, but Revesz said that is a fact of life. “Anything that’s important has uncertainty attached to it,” he added.
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Brief on offshore drilling leases
On March 21, we filed a reply brief on behalf of the Center for Sustainable Economy in its ongoing lawsuit to stop illegal practices at the Bureau of Ocean Energy Management. We argue that flawed economic analysis leads BOEM to sell new offshore leases too quickly and too cheaply. With briefing complete, the next step is the oral argument in the U.S. Court of Appeals for the District of Columbia Circuit later this year.
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Advocacy Training: Coal Finance
Policy Integrity and the Institute for Energy Economics and Financial Analysis jointly offered a three-day training program at New York University in mid-March for environmental advocates and attorneys. The panels addressed financial issues involving coal-fired power plants and mines, while exploring the dynamics driving the coal market at home and overseas. About 150 participants discussed ways to make the economic transition from coal and the current economics of alternative energy sources.
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On the Docket: Report on transportation emissions
Jason Schwartz and Jack Lienke are preparing a policy brief on new approaches to reducing greenhouse gas emissions from the transportation sector. The brief explores the practical benefits of—and legal authority for—a cap-and-trade program and proposes two options for EPA to consider. The brief argues that the transportation sector needs a more comprehensive strategy that will provide greater and more predictable reductions at the lowest possible cost.
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Spotlight on Staff: Jack Lienke
As a law student, Lienke was a member of the 2010 inaugural class of Policy Integrity’s regulatory policy clinic. Following graduation, Lienke served as a law clerk to the Hon. Janet C. Hall of the U.S. District Court for the District of Connecticut and worked as a litigation associate at Davis Polk & Wardwell in Manhattan. In 2014, he returned to Policy Integrity as our newest Legal Fellow. “It’s an exciting time to be back,” says Lienke. “Thanks to the President’s Climate Action Plan, there is real momentum behind a new suite of greenhouse gas regulations, and we have the opportunity to help shape and defend those policies.”
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Job Opening
Policy Integrity is looking for a new legal fellow, to begin August 2014. Please circulate the job description to qualified candidates.