EPA comments on the April 2013 Keystone NEPA review — monetising the social costs of CO2 emissions - .PDF file.
The US Environmental Protection Agency (EPA) has unveiled a new approach to evaluating climate change impacts under NEPA — monetising social costs of CO2. In those comments, EPA’s Assistant Administrator for Enforcement and Compliance Assurance recommended that the State Department use “monetized estimates of the social cost of the GHG emissions from a barrel of oil sands crude compared to average U.S. crude.” What EPA means is that the final EIS should calculate the cost to society of the difference in GHG emissions between using Keystone crude and an average U.S. crude. Over 50 years, the State Department suggests the difference could be as much as 935 million metric tons of CO2…
If you are registered and logged in to the site, click on the link below to read the rest of the Hogan Lovells briefing. If not, please register or sign in with your details below.