Appeals court revives Biden climate damage cost estimate

NEW ORLEANS (AP) — An appeals court has revived a Biden administration effort to account for potential damage from greenhouse gas emissions when creating rules for polluting industries. A Louisiana-based federal judge had blocked the so-called “social cost of carbon” policy. The Trump appointee said its regulatory burdens would drive up energy prices. But a 5th U.S. Circuit Court of Appeals panel in New Orleans stayed that ruling in a decision dated Wednesday (March 16, 2022), saying any burdens are speculative. For now, it means federal regulations can factor in the cost of carbon dioxide emissions at about $51 per ton. Louisiana’s attorney general is pursuing another appeal.