Gary Yohe, the Woodhouse/Sysco Professor of Economics, was quoted in a Nov. 3 New York Times article titled “Obama Administration Weighs Costs of Doing Nothing.”
The article examined the Obama Administration’s inaction on significant climate change measures and how it is “struggling to reach its own conclusion,” a stark difference from the President’s campaign rhetoric of speedy action on climate change issues. The sticking point appears to be the cost versus benefit calculations or “social costs” of deciding whether to enact specific measures.
Yohe says, in part, that the difficulty lies in objectively quantifying these costs.
“You can’t really quantify the social costs of carbon with any degree of confidence. You can get just about any number you want to, depending on the assumptions you use. That’s why EPA struggles so much,” said Yohe.