Big Oil Allies With Environmentalists (Kidding)
A speech by ExxonMobil CEO Rex Tillerson sparked debate in the environmental community this week. He condemns President Obama’s favored emissions-cutting strategy, cap&trade, and advocates for a carbon tax. So those who find cap&trade too complicated and ripe for abuse (like the stock market?) can now consider themselves allied with Big Oil. Yes, economists favor a carbon tax over cap&trade – in theory. But in the real world, a carbon tax isn’t politically doable, even if the Exxon CEO says it is. And calling for it splits the effort to cap emissions and fight climate change – which suits Big Oil just fine. From CleanSkiesNews via YouTube
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