Reuters/ February 26, 2021

WASHINGTON (Reuters) – The White House on Friday announced a major change in how the federal government will calculate and weigh the cost of climate change in its permitting, investment and regulatory decisions with a move to restore the “social cost of greenhouse gases,” which had been slashed under the Trump administration.

Heather Boushey, a member of the Council of Economic Advisers said that the Biden administration will restore price estimates made before 2017 of about $50 per ton of greenhouse gases emitted from $10 or less per ton used by the Trump administration.

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