The fight to enact a carbon tax has secured a high-profile and somewhat surprising financial backer: ExxonMobil.
Exxon, long accused of downplaying the threat of climate change, announced plans on Tuesday to donate $1 million over two years to a group urging Washington to enact a tax on carbon.
The donation to Americans for Carbon Dividends makes Exxon (XOM) the first American oil and gas supermajor to financially support the movement.
The decision reflects Exxon's desire to be viewed as part of a climate change solution, not the problem. Exxon realizes its early support could allow the company to shape legislation -- and prevent a more burdensome outcome from Washington.
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