Exxon chief backs carbon tax

ENERGY TECH

disclaimer: image is for illustration purposes only

by Staff Writers
Washington (UPI) Jan 10, 2009
The head of ExxonMobil, the world's largest oil company, has called for a carbon tax to help cut greenhouse gas emissions.

Exxon chief Rex Tillerson's comments represent a radical turn from the days when the oil giant denied the existence of man-made global warming, The Independent reported Saturday.

"A carbon tax is also the most efficient means of reflecting the cost of carbon in all economic decisions -- from investments made by companies to fuel their requirements, to the product choices made by consumers," Tillerson said in a speech to the Woodrow Wilson Center for International Scholars in Washington.

"As a businessman, it is hard to speak favorably about any new tax. But a carbon tax strikes me as a more direct, a more transparent and a more effective approach," he was quoted by the English newspaper as saying.

Others backing a carbon tax include former U.S. Vice President Al Gore and Larry Summers, President-elect Barack Obama's designated head of the National Economic Council.

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Analysis: Chevron Nigeria resumes oil flow

Washington DC (UPI) Jan 07, 2009
Chevron has lifted its extended force majeure on oil exports from Nigeria caused by attacks by militants on its installations in the Niger Delta.

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