What is the Real Cost of Power Production?

clipped from www.scientificamerican.com Market prices don't reflect hundreds of billions of dollars in hidden costs of energy production to human health and the environment Market prices don't reflect hundreds of billions of dollars in hidden costs of energy production to human health and the environment, a National Research Council panel said in a report released today. "There are many external effects of energy production and use," said Jared Cohon, president of Carnegie Mellon University and chairman of the panel that wrote the report. "These are important because they can lead to distortions in decision making." The report estimates $120 billion in hidden damages not related to climate change in the United States in 2005, the primary year used in the study, which was requested by Congress. The tally mainly reflects hidden costs of health problems from air pollution in electricity generation and transportation. The amount does not include damages from climate change, ecosystem destruction or risks to national security.