House Republicans are taking steps to eliminate a regulatory metric for greenhouse gas emissions that was implemented during the Obama administration. They argue that this metric is hindering the U.S. energy sector with what they deem as 'nonscientific' standards.
One of the key arguments put forth by Rep. Richard Hudson from North Carolina is that Americans are currently facing challenges in affording fuel and electricity, making the 'social cost' of energy a lower priority. Hudson emphasizes the need to boost American energy production to reduce prices, rather than imposing costly regulations that could impede production.
The metric in question, known as the 'social cost of carbon,' considers various factors such as public health, economic impacts, and sea level changes when calculating the cost of greenhouse gas emissions. However, projections based on this metric can vary significantly due to the diverse indicators involved, as noted by the Brookings Institute.
Originally introduced as a regulatory tool under the Obama administration, the 'social cost' metric was rescinded by former President Trump. President Biden reinstated it as part of his clean energy agenda, directing federal agencies to incorporate the 'social cost of greenhouse gases' into their regulatory decision-making processes.
While Democrats view the 'social cost' metric as a crucial tool for assessing the long-term consequences of carbon pollution, Republicans criticize it as an unscientific measure leading to onerous regulations. They argue that government intervention in the energy sector, driven by this metric and the Biden administration's green energy initiatives, is contributing to rising gas prices.
Republican lawmakers, including Kevin Hern from Oklahoma and August Pfluger from Texas, are spearheading a bill to halt the use of the 'social cost' metric in federal regulations. They advocate for transparent and unbiased information to guide energy policies, accusing the Biden administration of relying on biased research to advance its anti-fossil fuel agenda.
In response to these developments, the White House has not issued a statement. The debate over the 'social cost of carbon' underscores the ongoing clash between environmental considerations and energy policy in the United States.