Why Big Oil Might Secretly Wish for a Carbon Tax [2016]

In late May 2016, Exxon Mobil faced the imposition of a carbon tax. In an opinion piece for MarketWatch, Thomas Stoner Jr. proposes that the carbon tax might benefit the oil and gas industry instead of presenting a threat. A new carbon tax would harm the coal industry more profoundly, increasing electricity prices and, therefore, prices for an emerging industry looming on Exxon’s horizon.