US oil lobby moves towards supporting carbon tax | The Business Standard
Skip to main content
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
    • GOVT. Ad
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
The Business Standard

Friday
June 02, 2023

Sign In
Subscribe
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
    • GOVT. Ad
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
FRIDAY, JUNE 02, 2023
US oil lobby moves towards supporting carbon tax

Global Economy

BSS/AFP
03 March, 2021, 10:35 am
Last modified: 03 March, 2021, 11:09 am

Related News

  • Two, too many: Govt introduces carbon tax for second car
  • Carbon tax coming for 2nd car
  • Biden threatens tax hit for 'war profiteering' oil giants
  • The US oil executive making a big bet on combating climate change
  • US oil refiners, pipeline companies expect strong demand for rest of 2022

US oil lobby moves towards supporting carbon tax

The move comes as newly inaugurated President Joe Biden shifts environmental policy, making aggressive climate mitigation a priority and rejoining the Paris Agreement

BSS/AFP
03 March, 2021, 10:35 am
Last modified: 03 March, 2021, 11:09 am
The Wilmington ARCO refinery in Los Angeles, California on Dec. 19, 2003. DAVID MCNEW/GETTY IMAGES
The Wilmington ARCO refinery in Los Angeles, California on Dec. 19, 2003. DAVID MCNEW/GETTY IMAGES

The American Petroleum Institute (API) confirmed Tuesday it is considering supporting a carbon tax, a sign of the shifting politics of climate change in the United States.

API has been working with scientists, geologists and others throughout the industry "to meet the world's energy demands and drive down US emissions, and our efforts are focused on supporting a new US contribution to the global Paris Agreement," a spokeswoman for the institute, whose 600 members include ExxonMobil and Chevron, told AFP.

The move comes as newly inaugurated President Joe Biden shifts environmental policy, making aggressive climate mitigation a priority and rejoining the Paris Agreement after former president Donald Trump exited the pact.

A draft statement circulated within the API endorsed an economy-wide carbon tax as a means to "lead to the most economic paths to achieve the ambitions of the Paris Agreement," the Wall Street Journal reported.

That would be a reversal for the organization, which opposed Congress's last major legislative attempt to price carbon more than a decade ago.

Taxing carbon would likely speed a transition from fossil fuels to renewable energy and other emissions-free technologies.

How to respond to climate change has split members of the API, with European oil giants favoring a more aggressive stance at cutting emissions than their American counterparts.

In January, French oil major Total announced it was exiting the API, citing the group's support in 2020 of political candidates who argued against the US participation in the Paris Agreement, among other issues.

Top News / World+Biz

US oil / US oil producers / US oil industry / Carbon tax / carbon tax bill

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Budget made on unrealistic assumptions, targets are illusory: CPD
    Budget made on unrealistic assumptions, targets are illusory: CPD
  • Photo: Collected
    Taka devalued against dollar by Tk1.5 again
  • Photo: Collected
    Remittance drops in May due to hundi

MOST VIEWED

  • Consumers may find the digital rupee to be a safer alternative to bank deposits. Photo: Bloomberg
    Russia’s rupee trap is adding to $147 bln hoard stuck abroad since Ukraine invasion
  • A man wearing a protective face mask following an outbreak of the coronavirus disease (Covid-19) walks past a screen displaying the world's markets indices outside a brokerage in Tokyo, Japan, March 17, 2020. Photo :Reuters
    Asian shares rise on debt bill progress, Fed pause hopes
  • A general view of the US Capitol in Washington, US November 10, 2020. REUTERS/Erin Scott
    US Senate gives final approval to debt ceiling deal, sending it to Biden
  • File photo of Sri Lankan protests over price rise and lack of essential commodities in 2022
    Sri Lanka surprises with 250 bps rate cut, signals rebound from crisis
  • A 3D printed oil pump jack is seen in front of displayed stock graph and Opec logo in this illustration picture, April 14, 2020. Photo:Reuters
    Will OPEC+ announce more output cuts? Analysts have their say
  • Photo: Reuters
    BRICS strive to counter US with expansion, shared currency

Related News

  • Two, too many: Govt introduces carbon tax for second car
  • Carbon tax coming for 2nd car
  • Biden threatens tax hit for 'war profiteering' oil giants
  • The US oil executive making a big bet on combating climate change
  • US oil refiners, pipeline companies expect strong demand for rest of 2022

Features

Photo: Md Adnan Khairullah

Above six thousand metres

19h | Features
Photo: Collected

Al Faya, one grain at a time

19h | Explorer
Illustration: TBS

Runaway non-food inflation remains the bigger culprit, but unchecked

1d | Panorama
There are more than 20 similar shops on Nilkhet footpath that sell tea, biscuits, crockeries, kitchenwares, bedsheets, mats, manicure sets, etc and all carry the logos and marks of different medicines and pharmaceutical companies in Bangladesh. 
Photo: Noor A Alam

Uncovering a treasure trove of pharma co gifts in Nilkhet's footpaths

2d | Panorama

More Videos from TBS

Budget reflects IMF conditions

Budget reflects IMF conditions

1h | TBS Economy
Awarness and vaccination can prevent cervical cancer

Awarness and vaccination can prevent cervical cancer

2h | TBS Health
Prices up, prices down

Prices up, prices down

17h | TBS Economy
6% inflation rate highly ambitious: Selim Raihan

6% inflation rate highly ambitious: Selim Raihan

17h | TBS Economy

Most Read

1
File Photo: Mohammad Minhaj Uddin/TBS
Bangladesh

Low-cost housing planned for 4 lakh Bangabandhu Shilpa Nagar workers

2
Boeing offers Biman its latest 787-10 Dreamliner
Bangladesh

Boeing offers Biman its latest 787-10 Dreamliner

3
Photo: TBS
Energy

Wind power feeds national grid for first time Friday

4
Govt to double gain tax on land, flat registration
Budget

Govt to double gain tax on land, flat registration

5
File Photo: UNB
Bangladesh

US govt's new visa policy does not bother Bangladesh government: Shahriar Alam

6
Bus rams Pak deputy high commissioner's car in B'baria
Bangladesh

Bus rams Pak deputy high commissioner's car in B'baria

EMAIL US
[email protected]
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2023
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - [email protected]

For advertisement- [email protected]