Public-land cattle emit about 12.4 million tons of CO2-equivalent a year, and the social cost runs roughly 100 times the grazing fees collected, for under 1.6% of America's beef. The episode lays out the climate ledger, steelmans the regenerative-grazing counter-claim, and poses the hinge question of whether near-free forage is the greatest good in the long run in an age of drought.
Whether regenerative grazing builds meaningful soil carbon is unsettled, strong in wet grasslands but unproven at public-range scale. The result depends heavily on which social cost of carbon is used, and the 12.4 million ton figure moves with herd size and methane assumptions.



