American Petroleum Institute Backs Federal Price On Carbon, Market-Based Climate Solutions
Express Newsletter Updates » American Petroleum Institute Backs Federal Price On Carbon, Market-Based Climate Solutions
March 29, 2021
On Thursday, the American Petroleum
Institute announced it endorsed a federal price on carbon dioxide emissions
that contribute to global warming.
In a statement,
API said, “We will support carbon pricing mechanisms that work across the
entire economy to maximize environmental benefits,” reversing a long-held
position.
A spokesperson for API
emphasized oil companies want “market-based solutions” such as a carbon tax or
a cap-and-trade policy, rather than “heavy-handed government regulation.?