Exxon embraces a carbon tax
Exxon Mobil is stepping up efforts to promote a tax on carbon to address man-made climate change, which is both a welcome move and a politically astute one.I oppose a carbon tax. I do not like market manipulation whether by an industry or the government. It would also take some of the pressure off the alternative fuel marketplace to become more efficient. A carbon tax would reward inefficiency and the poor would be hardest hit. It would also give a competitive advantage to large corporations who have the staff to deal with the complexities of this type of regulation.
The world’s largest oil company wants a simple tax charged on extracted carbon, such as oil and gas, in lieu of complicated regulations or trading schemes that too often create unintended consequences. Exxon chief executive Rex Tillerson also wants the money returned to the public to offset the cost to consumers.
While Exxon first advocated for a revenue-neutral carbon tax in 2009, the company has recently stepped up lobbying in Washington and around the world. The move was sparked by President Barack Obama’s Clean Power Plan, the world’s adoption of the Paris Agreement to fight climate change and the U.S. House of Representatives’ resolution to condemn any tax on carbon.