Obama’s Carbon Tax to Gain Traction with Exxon Backing

Bloomberg reported that Obama’s proposed carbon tax would be made more likely with support from Exxon.

As quoted in the market report:

The source hit hardest is coal,” David Kreutzer, a research fellow in energy economics at the Heritage Foundation in Washington who opposes the tax, said in an interview. “The biggest substitution for coal is going to be natural gas.

To view the whole Bloomberg report, click here.