Wednesday, June 24, 2009

Whaaaaat? Exxon-Mobil's CEO Backs a Carbon Tax

Totally failing to uphold their stereotype of being an earth-raping evil corporation.

The Wall Street journal reports:

ExxonMobil chief executive Rex Tillerson is bound and determined to join the Pigou club.

In a speech today in Washington, Mr. Tillerson said that he much prefers a carbon tax—rather than a cap-and-trade scheme—if the government takes steps to curb greenhouse-gas emissions.

“My greatest concern is that policy makers will attempt to mandate or ordain solutions that are doomed to fail,” Mr. Tillerson said, reports Dow Jones Newswires. “A carbon tax would be a more direct and transparent approach,” he said.

Wait, so the CEO of Exxon-Mobil is advocating a position to the left of Congressional Democrats, who favor "cap-and-trade"?

Somebody pinch me, I must be dreaming.