Bloomberg Law
Free Newsletter Sign Up
Login
BROWSE
Bloomberg Law
Welcome
Login
Advanced Search Go
Free Newsletter Sign Up

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., ...