With the end in sight for fossil fuels, even the API puts a price on carbon emissions
The motives of the American Petroleum Institute, a long-time and staunch ally of the fossil-fuel industry, may be more about fear of Biden policies than suddenly becoming climate-friendly
Washington/New York — Few saw the surprise disclosure earlier this week that the American Petroleum Institute (API) is considering endorsing a price on carbon dioxide emissions and thought the fierce fossil fuel lobby was suddenly becoming climate-friendly. Rather, seasoned industry-watchers say it’s the clearest sign yet that fossil-fuel companies see Washington’s shift on climate policy as a real and significant threat.
A carbon price — whether in the form of an emissions trading scheme or a tax on planet-warming pollution — seems antithetical to the fossil-fuel industry’s interests, as it would effectively make their core product more expensive for consumers...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.