Exxon Mobil is concerned about climate change and is giving $1 million to promote a tax on carbon. The tax would reduce carbon emissions by boosting the prices of carbon fuels. The $1 million will go to Americans for Carbon Dividends, an advocacy organization created to support a carbon tax.
The plan was put forward by a group including James A. Baker III, a former treasury secretary and secretary of state, and former Secretary of State George P. Shultz. Rex Tillerson, a former CEO of Exxon and former secretary of state, also supports a carbon tax. These three secretaries of state were appointed by Republican presidents. In addition, BP Oil and Shell oil support a carbon tax.
The proposed CO2 tax would start at $40 a ton and increase over time. The revenue would be returned to Americans on an equal and monthly bases. There would be border adjustments to ensure fair trade.
In October, the Nobel Prize in Economics was awarded to William Nordhaus, of the U.S., who argues that a carbon tax would be the best way to address greenhouse gas emissions. A Salt Lake Tribune editorial also advocated a tax on carbon, and Canada recently joined the growing list of countries that tax carbon.
The fact that three former secretaries of state, a Nobel Prize-winning economist and major oil companies support a carbon tax is evidence that this is the best way to address climate change.
Russell Patterson, West Valley City