The coal industry is attacking the formula that the Obama administration used to raise the "social cost" of carbon in regulations, arguing it does not account for the economic benefits of fossil fuels.

A new study from the American Coalition for Clean Coal Electricity (ACCCE) says the benefits of carbon are 50 to 500 times greater than the "social costs" of polluting calculated by federal agencies.

"If this administration attempts to calculate the future costs of carbon, it's imperative that policymakers also consider the actual and potential benefits of our carbon-based economy," ACCCE President and CEO Mike Duncan said in a statement.

To read entire article, click here.