100 Iowa L. Rev. 853 (2015)

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Abstract

This Note explores the extent to which the 2013 revision to the social cost of carbon ("SCC")—a figure used in the cost-benefit analysis of federal rules involving carbon dioxide emissions conforms to the Administrative Procedure Act’s (APA) notice and comment procedure. The Note analyzes two precedents the 2013 SCC revision process set: (1) an agency will not re-notice a proposed rule when it substitutes an old SCC with a revised SCC in the final rule and (2) the interagency working group that calculates the SCC will not submit revised SCCs for independent notice and comment. This Note argues that these precedents, although likely permitted under present judicial interpretations of the APA, contribute to an uncertain regulatory environment for industries subject to carbon emissions regulation. This Note recommends that the Office of Information and Regulatory Affairs, a member of the interagency working group as well as the hub of executive oversight of the rulemaking process, should communicate more clearly and transparently about the SCC revision process, using the Federal Reserve System’s "forward guidance" communications strategy as a model.