Biggest Oil Lobby Throws Support Behind Carbon Pricing

The largest U.S.-based crude oil lobby has voted to support a measure that would tax or otherwise levy a price on carbon dioxide emissions. While surprising that the American Petroleum Institute would support such a measure, there are two caveats: the API will support a carbon-pricing initiative only if it is applied economy-wide and only if it is a replacement for current greenhouse gas regulations, instead of in addition to them. “We think that a carbon pricing policy that is market-based, transparent and economy-wide gives us the best…