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Oil Trade Group Drafts Carbon-Tax Proposal That Could Raise Prices at the Pump

Timothy Puko and Ted Mann of The Wall Street Journal report on industry support for a carbon tax.

The C3 Take
  • A carbon tax is regressive in nature and forces lower and middle-income families to contribute a larger share of their income to energy costs.
  • If enacted in the United States, a carbon tax would raise the cost of everything economy-wide while doing little  to curb global greenhouse gas emissions or meaningfully address climate change.
  • A better way to reduce emissions is by lowering the price of green technologies through investments in R&D, reducing regulations for all energy sources, and adopting a more technology-neutral tax code.

“The API proposal calls for assessing gasoline wholesalers, power plants and others a tax starting at $35 to $50 a ton for carbon dioxide generated by the fossil fuel they sell or use, with annual adjustments for inflation and other factors, according to the document reviewed by the Journal.”

Read the full article here.

The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.

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