IADC monitoring proposed regulations around social cost of carbon

Bill Tanner, IADC VP of Government and Regulatory Affairs, spoke with DC at the 2014 IADC Drilling Onshore Conference in Houston on 15 May about IADC’s current legislative program and the industry outlook for the 2014 midterm elections. In particular, he noted that IADC is monitoring proposed regulations around the social cost of carbon, which is an initiative to affix a dollar price to each ton of emitted carbon. The social cost of carbon is part of the Obama Administration’s efforts to focus on climate change, Mr Tanner explained. He added that although the full effects of this initiative have not been realized, IADC members must remain vigilant as the EPA has included it in roughly 30 of its regulatory proposals.