Exxon Mobil, other oil companies and a number of other corporate giants will announce on Tuesday that they are supporting a plan to tax carbon emissions that was put forth this year by a group of Republican elder statesmen.
The group, the Climate Leadership Council, unveiled a “conservative climate solution” in February that would fight global warming by taxing greenhouse gas emissions and returning the money to taxpayers as a “climate dividend.” The underlying idea is that, by making energy derived from fossil fuels more expensive, the free market will move more quickly and effectively toward renewable energy and other low-carbon solutions.
