Jerry Taylor of Cato has an excellent summary of what the scientific literature tells us about the social cost of carbon emissions, drawing on the comprehensive but sometimes opaque work of Richard Tol. His conclusion:

So what does Tol 2008 tell us about the social cost of carbon emissions (assuming that the underlying science from the IPCC is correct)? Given our skepticism about the underlying logic of discount rates of 1% or less, any number between $3 per ton and $24 per…

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