October 9, 2018
ExxonMobil will give $1 million over two years to a group promoting a plan that would tax the carbon content of fuels, including the oil giant’s products, and return the proceeds of the tax to Americans. ExxonMobil said the $1 million will go to Americans for Carbon Dividends, a 501(c)(4) educational and advocacy organization created to support a carbon tax-and-dividend plan put forward by a group including former treasury secretary James A. Baker III and former secretary of state George P. Shultz. The tax would be $40 per ton of carbon dioxide, equal to about 36 cents per gallon of gasoline. It would also raise costs for natural gas and coal.