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Cake day: February 8th, 2024

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  • On December 11, 2008, ExxonMobil CEO Rex Tillerson said that a carbon tax is preferable to a cap-and-trade program which “inevitably introduces unnecessary cost and complexity”. A carbon tax is “a more direct, more transparent and more effective approach”. Tillerson added that he hoped that the revenues from a carbon tax would be used to lower other taxes so as to be revenue neutral.[13]

    Wtf, how is this possible? If your carbon tax doesn’t convince your biggest polluters to divest from fossil fuels, you’re doing it wrong.

    The whole point is that it is not revenue neutral