Refinery column

Time for a Carbon Tax

Over the last few decades, oil prices have fluctuated widely. For policymakers, these fluctuations present a golden opportunity to advance the key global goals of mitigating climate change and building a more sustainable economy, all while boosting revenues and stabilizing consumer prices.

WASHINGTON, DC – Over the last few decades, oil prices have fluctuated widely – ranging from $10 to $140 a barrel – posing a challenge to producers and consumers alike. For policymakers, however, these fluctuations present an opportunity to advance the key global objectives – reflected in the Sustainable Development Goals adopted last September and the climate agreement reached in Paris in December – of mitigating climate change and building a more sustainable economy.

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