“Wouldn’t it be nice if we could scientifically determine the cumulative costs or benefits that result over the next three hundred years from our choices in the present? It may be nice, but it is impossible. ”
“Because [mainstream climate] models produced such wildly different results depending on the projections and assumptions baked in the mathematical cake, economist Robert Pindyck concluded after an extensive review of such models that they are so badly flawed as to make them virtually useless for policy.”
When former President Obama wanted to curtail carbon dioxide emissions, he instructed his economic advisors to construct a way to calculate their effect on society. The metric adopted by the EPA to guide them in their quest to regulate the economy is a metric called the “social cost of carbon” (SCC).…