Is there a better approach? What policy does ExxonMobil support?
ExxonMobil agrees with many of the world’s leading economists and commentators that a revenue-neutral carbon tax or greenhouse gas emissions fee would be a much simpler, more transparent and more cost-effective approach. It would create a uniform and predictable cost on greenhouse gas emissions across our economy, and it more easily lends itself to global application. A carbon tax is much more efficient administratively since it can be largely built upon the existing tax infrastructure. Considering the recent economic difficulties, it’s important to point out that a carbon tax avoids the complexity and the opportunities for manipulation inherent in building a large, new commodity market. Trading of carbon allowances, directly and through complex derivatives, will unnecessarily raise the costs of energy and contribute to the volatility of energy prices throughout the economy. Finally, making the carbon tax “revenue neutral” means that it cannot merely be used to increase government inco
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- Is there a better approach? What policy does ExxonMobil support?
