Oil Trade Group is ready to support carbon pricing


WASHINGTON – The oil industry’s top lobby is gearing up to back pricing for carbon emissions in what would be the strongest signal yet that oil and gas producers are ready to accept the efforts. of the government to face climate change.

The American Petroleum Institute, one of Washington’s most powerful trade associations, is poised to adopt the pricing of carbon emissions as a policy that would “lead to the most economical paths to achieving the ambitions of the Paris Agreement,” according to a draft statement reviewed by The Wall Street Journal.

“API supports economy-wide carbon pricing as the government’s primary climate policy instrument to reduce CO2 emissions while helping to keep energy affordable, rather than mandates or actions prescriptive regulatory, “says the draft statement.

The API executive committee was scheduled to discuss the proposed statement this week. In a statement to the Journal, API senior vice president of communications Megan Bloomgren said the group’s efforts “are focused on supporting a new US contribution to the global Paris agreement.”

Carbon pricing aims to discourage the production of harmful greenhouse gases by setting a price on emissions. The API’s preliminary statement would support the concept in principle, without endorsing a specific pricing scheme like a carbon tax.

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