ExxonMobil said Tuesday that it does not support imposing a carbon tax as a way to raise revenue and help avoid the fiscal cliff — further deflating hopes that the long-shot proposal could find its way into the final deal.
Energy experts from both parties, as well as some conservative economists, have been promoting a tax on carbon emissions despite resistance from congressional Republicans and reluctance from the White House. And some advocates have pointed to the fact that a carbon tax has drawn support even from bulwarks of corporate America like ExxonMobil, which has backed the idea since at least 2009.
But the company's support goes only so far, Vice President of Public and Government Affairs Ken Cohen said Tuesday.
A "revenue-neutral" carbon tax is the oil company’s preferred option only if policymakers are moving forward with putting a price on carbon as an effort to address climate change, Cohen said.