Big Oil Planning on 10-Fold Surge in Carbon Emission Prices
This article is for subscribers only.
International oil producers are girding for carbon emission costs that may surge to almost 10 times the current prices in Europe, the world’s largest greenhouse gas market, as governments around the world step up efforts to curb climate change.
Exxon Mobil Corp., the biggest energy company by market value, is basing plans for future capital investments on the assumption that it will have to pay $60 a metric ton for carbon emissions.