Exxon supports carbon tax

ExxonMobil Corp. supports taxing carbon dioxide as the most efficient way of curbing greenhouse gas emissions.
By Consulting Specifying Engineer Staff January 12, 2009


ExxonMobil Corp . supports taxing carbon dioxide as the most efficient way of curbing greenhouse gas emissions. “As a businessman, it’s hard to speak favorably about any new tax, but a carbon tax strikes me as a more direct, more transparent, and more effective approach,” said Rex Tillerson, CEO of Exxonmobil.

At a Dec. 11 event in Chicago, Tillerson described how he preferred a carbon tax to carbon trading programs such as those used in Europe. Tillerson believes that a cap and trade program will bring about unnecessary cost and complexity. The cap and trade program requires more regulation and Tillerson believes that a carbon tax is more easily implemented.