Associated Press: "Explainer: Can Climate Change Be Solved by Pricing Carbon?"
Fellow Brian Prest is quoted in an explainer about carbon pricing and the policy option's future.
Under Biden, the U.S. Interior Department for the first time is applying climate damage considerations to oil and gas sales on public lands and waters. An upcoming lease sale in Wyoming, for example, could result in future emissions of 34 million tons (31 million metric tons) of carbon dioxide. That’s equivalent to more than $1.5 billion in future damages.
But the agency still plans to sell the leases because officials said there were no “established thresholds” to evaluate whether the increased emissions were acceptable, or not...
“While pricing carbon would be the gold standard, it seems politically difficult to actually get there,” said Brian Prest with Resources for the Future, a Washington, D.C.-based research organization.
