By:  E. Lynn Grayson

Yesterday, OMB extended the comment period on its revisions of the Social Cost of Carbon technical document for an additional 30 days, to February 26, 2014, to permit commenters adequate time to review the document and related information in the scientific literature. The technical document affects the analysis underlying agency and OMB benefit / cost review and, therefore, will affect most economically significant and major rules.

On November 26, 2013, the OMB invited public comments on the Technical Support Document entitled Technical Update of the Social Cost of Carbon for Regulatory Impact Analysis Under Executive Order 12866. That request may be found at 78 FR 70586. OMB now requests that comments be submitted electronically to OMB by February 26, 2014 through www.regulations.gov.

The Social Cost of Carbon (SCC) is used to estimate the value to society of marginal reductions in carbon emissions. The Technical Support Document (TSD), available at: http://www.whitehouse.gov/sites/default/files/omb/assets/inforeg/technical-update-social-cost-of-carbon-for-regulator-impact-analysis.pdf, explains the derivation of the SCC estimates using three peer reviewed integrated assessment models and provides updated values of the SCC that reflect minor technical corrections to the estimates released in May of 2013. In order to allow commenters adequate time to review the TSD and related information in the scientific literature that they may wish to consider to inform their comments, OMB is extending the comment period by 30 days.