On Tuesday, the CEO of Occidental Petroleum Corp. Vicki Hollub expressed her opposition to a carbon tax.
“A carbon tax would be bad for a lot of the industry, a carbon tax would be bad for the consumers and especially for those consumers who are more disadvantaged from an economic standpoint,” Hollub said.
Her idea was different from large rival oil companies and some trade groups that are backing the tax, such as the American Petroleum Institute (API), Exxon Mobil Corp., and Chevron Corp.
By April 22, the US will reveal a new economy-wide emissions reduction target for 2030 to comply with the Paris climate agreement.
Meanwhile, Occidental has been collecting carbon tax credits via its advanced oil recovery operations. It also has set a net-zero emissions target in its operations before 2040 while making attempts to turn its low-carbon unit into a profitable business.
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Published on April 7, 2021 1:07 PM (GMT+8)Last Updated on April 7, 2021 1:07 PM (GMT+8)
