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Oil Companies Join Corporate Lobbying Push for U.S. Carbon Tax

May 20, 2019, 12:11 PM

Oil companies, auto makers and consumer products manufacturers will unleash a campaign for a U.S. tax on carbon dioxide emissions even though it may lead to higher prices for their products.

Oil companies BP Plc and Royal Dutch Shell Plc are giving $1 million each to the Americans for Carbon Dividends advocacy campaign, underwriting its efforts to persuade Congress to enact a carbon tax-and-dividend plan. And Ford Motor Co. is signing on as a founding member of the group developing its underlying initiative, the Climate Leadership Council.

Meanwhile, dozens of corporations, including Capital One Financial Corp., software company Salesforce.com Inc., ...