Dr. Bernard Weinstein, Associate Director of the Maguire Energy Institute, wrote about how the pricing of carbon has become a lively topic of debate with the Biden administration’s commitment to fighting climate change. Proponents of carbon pricing argue that it is a simple and efficient mechanism for discouraging emissions and ensuring that the negative costs of greenhouse gas emissions (GHGs) are embedded in the prices of carbon-intensive products such as gasoline and petrochemicals. Opponents of carbon pricing argue that the “social cost of carbon” is a malleable cost driven largely by regulators’ assumptions and political considerations. Read more here.