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ExxonMobil calls for carbon tax

Executives at global oil company ExxonMobil, the manufacturer of Mobil Delvac Super 1400 15W/40, claimed that without major international coordination on pollution caused by carbon, the planet’s average temperature would be set to rise by roughly 3.5°C over the next 100 years.

This would mean that the planet would suffer from the effects of climate change, including dramatically rising sea levels and severe droughts. This is a subject that the world’s political leaders are trying to address during ongoing climate talks in Paris, where it is hoped that a binding international pact to limit damaging carbon emissions will be reached, and it seems that ExxonMobil is on the same page.

The global oil giant recently said that it supported the Paris climate change initiatives. However, it noted that cutting greenhouse gas emissions to the United Nations’ recommended levels would be extremely expensive if it was not done efficiently.

Speaking about the issue, Mobil’s manager of environmental policy and planning said:

“As you push deeper and deeper into that decarbonisation, you start to drive costs up exponentially.”

According to ExxonMobil, if today’s carbon rules were to remain in place and become only a bit more stringent, it is estimated that the cost of cutting carbon pollution would rise to $200 per ton of CO2, putting $2 on to the price of a gallon of oil.

Mobil thinks that a revenue-neutral carbon tax is the simplest and most transparent way to add carbon costs, and pump government revenue back into the economy, stating its belief that other ways of reducing carbon are inefficient at best.

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