Oil companies in group seeking carbon tax

Four major oil companies have joined a nongovernmental initiative to impose a carbon tax in the US as a precaution against catastrophic climate change.

The Climate Leadership Council, which was launched in February by a group of former officials of Republican administrations, listed BP PLC, ExxonMobil Corp., Royal Dutch Shell PLC, and Total SA in a June 20 disclosure of founding members.

The CLC advocates a tax beginning at $40/ton of carbon-dioxide emissions and increasing over time.

Proceeds of the tax would be returned to Americans via monthly dividend checks and be accompanied by border adjustments favoring non-US countries with comparable carbon-pricing systems and by elimination of regulations made unnecessary by carbon pricing.

Other corporate founding members are GM, Johnson & Johnson, P&G, Pepsico, Santander, Schneider Electric, and Unilever.

The CLC also reported two nongovernmental organizations as founding members: Conservation International and The Nature Conservancy.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...