NRDC blogs about a new study on federal use of discount rates in calculation of carbon costs, which suggests we grossly underestimate the present value of reducing emissions. Did you even know that the feds had put an internal price on CO2? They behave as if it costs $21/ton to emit. But that’s based on a discount rate of around 3%, which is the highest rate OMB suggests using for inter-generational costs. Part II of the very detailed NRDC post is here.