Corporations Push for Energy Tax that will be Passed onto Consumers

April 25, 2022

Last week, two organizations that represent major corporations in Washington publicly called for the establishment of a carbon tax. Power The Future is pushing back and making clear that a new energy tax is not the answer to America’s current energy challenges.

The Daily Caller writes, “The American Petroleum Institute privately drafted a proposal that would include a tax of $35-50 per ton of carbon dioxide emitted by fossil fuels, The Wall Street Journal reported Thursday evening. On Tuesday, meanwhile, the Business Roundtable — of which Amazon, Google, Apple, JPMorgan Chase and many other corporations are members — released an energy policy roadmap that endorsed carbon pricing.”

A carbon tax or a carbon pricing system end up with the same result: higher energy prices for American consumers. The Daily Caller continues, “A carbon tax of $35 per ton would raise gasoline costs by about 28 cents a gallon while a $50-per-ton tax would increase pump prices by 41 cents a gallon, according to Energy Information Administration data.”

Daniel Turner, the founder and executive director of Power The Future told the Daily Caller: “No company pays a carbon tax, consumers will. This idea that we will tax carbon and therefore have less of it, is just a complete fallacy. Just like every other industry, big corporations love big government, and the oil and gas industry is not immune from that. It is unsurprising that some of the biggest producers and the biggest corporations want some sort of new regulation that they can afford, that their competitors cannot afford.”