Exxon Mobil Corps, the largest publicly held oil and gas company in the world, is actively engaging other U.S. energy companies to support a carbon tax as the most effective tool to combat carbon dioxide emissions. While Exxon came out publicly in support of a carbon tax in 2009, the oil giant has stepped up its lobbying efforts lately, both in outreach to the U.S. Congress and to its industry partners.
“As policymakers develop mechanisms to meet the Paris goals, they should focus on reducing the greatest amount of emissions at the lowest cost to society,” wrote Suzanne McCarron, Exxon’s vice president of public and government affairs. “To do so, they should ensure a uniform and predictable cost of carbon, allow market prices to drive solutions, maximize transparency to stakeholders, reduce administrative complexity, promote global participation and easily adjust to future developments in climate science and policy consequences. Of the policy options being considered by governments, we believe a revenue-neutral carbon tax is the best.”
Exxon is the first U.S. oil company to advocate for a carbon tax.