April 11, 2017

WE ARE ALL NEOCONOMIST NOW:

Guess Who's for a Carbon Tax Now (Tina Rosenberg, APRIL 11, 2017, NY Times)

"If Trump does not go down the path of a carbon tax, we should not lose our resolve. We should stick to our values as Canadians to do something to protect the environment." -- Michael Crothers, Canada, November, 2016

"Climate change is happening. We think a broad-based carbon price is the right answer." -- Steve Williams, Canada, May, 2015

"Carbon pricing systems encourage the quickest and most efficient ways of reducing emissions widely." -- Ben van Beurden, the Netherlands, October, 2015

"A global carbon price would help to unleash market forces and provide the right incentives for everyone to play their part. History has shown the power of market forces in making economies less energy intensive as people have found more efficient ways to use energy." -- Bob Dudley, Britain, February, 2015

"One option being discussed by policy makers is a national revenue-neutral carbon tax. This would promote greater energy efficiency and the use of today's lower-carbon options, avoid further burdening the economy, and also provide incentives for markets to develop additional low-carbon energy solutions for the future." -- Darren Woods, United States, February 2017

So, what's the big deal? Support for putting a price on carbon emissions is hardly newsworthy. Virtually every environmentalist thinks it's crucial; many believe it's the single most important thing we could do.

But Michael Crothers doesn't work for an environmental organization. He's the president of Shell Canada. Steve Williams is head of Suncor, Canada's largest oil company. Ben van Beurden is chief executive of Royal Dutch Shell. Bob Dudley is chief executive of BP.

Darren Woods? That statement was part of his first blog post in his new job: chairman and chief executive of Exxon Mobil, replacing Rex Tillerson, the new secretary of state -- who also endorsed a carbon tax.

All of these energy companies favor a tax on every ton of carbon emissions, which is one of two ways to price emissions. The other way is called "cap and trade" -- creating a market in emissions by imposing a maximum. Companies who want to exceed the level can buy the right from others who pollute less.


MORE:
U.S. carbon footprint shrinks --again (Ben Geman, 4/11/17, Axios)

U.S. carbon emissions from energy dropped another 1.7 percent in 2016, largely because natural gas and renewables are displacing coal in power production, data from the federal Energy Information Administration shows.

Posted by at April 11, 2017 5:25 AM

  

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