Companies Plan for Carbon Tax

JOLIET, IL - MARCH 8: Storage tanks stand inside a fence surrounding an ExxonMobil oil refinery March 8, 2005 in Joliet, Illinois. Gasoline prices nationwide have climbed in the past two weeks and are expected to remain above two dollars per gallon throughout the summer months. 
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Clare Foran
Dec. 5, 2013, 1:38 a.m.

The idea of a car­bon tax is a non­starter for most con­ser­vat­ive law­makers. But more than two dozen of the U.S.’s largest com­pan­ies, in­clud­ing ma­jor oil and gas op­er­a­tions, think a tax on car­bon is in­ev­it­able and are factor­ing it in­to their long-term fin­an­cial plans, The New York Times re­ports.

The in­form­a­tion comes as a find­ing in a new re­port by U.K.-based en­vir­on­ment­al re­search firm the Car­bon Dis­clos­ure Pro­ject. Ac­cord­ing to the re­port, com­pan­ies plan­ning for the in­tro­duc­tion of a car­bon tax in the U.S. in­clude oil and gas heavy­weight Ex­xon Mo­bil, Duke En­ergy, Amer­ic­an Elec­tric Power, Gen­er­al Elec­tric, and DuPont, an Amer­ic­an chem­ic­al com­pany.

“It’s cli­mate change as a line item,” said Tom Car­nac, CDP’s North Amer­ic­an pres­id­ent, in ref­er­ence to the busi­ness de­cision be­ing made by these com­pan­ies to factor a car­bon tax in­to fu­ture plans. “They’re look­ing at it from a ra­tion­al per­spect­ive, mak­ing a profit. It drives in­tern­al de­cision-mak­ing.”

Read the full re­port here.


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