Exxon Mobil Corp is throwing $1 million at the move to produce a national carbon tax.
Exxon’s move is an attempt to manage what it sees as the risk of a similar movement in the US, in ways that it hopes will simplify requirements on its industry….
Exxon sees a carbon tax as an alternative to patchwork regulations, putting one cost on all carbon emitters nationwide, eliminating regulatory uncertainty….
On the contrary, Exxon is looking for short-term competitive political advantage at the expense of long-term economic—real—advantage. That’s unfortunate.
It’s also unfortunate because, leaving aside the question of whether a carbon tax even would work as claimed, the scheme is based on the false premise that increasing atmospheric CO2 somehow is bad. Atmospheric CO2 is, in fact, critical—as in can’t live without it—plant food. In addition to that small fact, ice core samples from both ends of the earth—Greenland and Antarctica—reaching back 400,000 years indicate that rising atmospheric CO2, far from being a harbinger of bad warming to come, lags planetary warming by several hundred years. The rise confirms that a cold planet is warming out of its Ice Age, and life is recovering and exhaling increasing amounts of CO2 into the atmosphere.