Exxon CEO Calls For Carbon Tax, Not Cap-And-Trade

Law360 (January 8, 2009, 12:00 AM EST) -- The CEO of Exxon Mobil Corp. has called for a federal tax on carbon emissions instead of a cap-and-trade system, deeming the latter too complicated and costly.

On Thursday, Exxon CEO Rex Tillerson gave a speech in Washington, D.C., expressing his preference for a carbon tax over a trading system like the one Congress has been drafting.

In a speech at the Woodrow Wilson International Center for Scholars that Exxon posted on its Web site, Tillerson warned that a cap-and-trade system would create a need for...
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