"Big Oil Companies Want a Price on Carbon. Here’s Why."

"Natural-gas profits have Shell and BP, among others, calling for increased use of carbon-emissions fees ahead of a make-or-break climate summit in Paris."

"Six oil and gas giants based in Europe have delivered an unusual joint message to organizers of United Nations climate talks: We want a price on carbon-dioxide emissions.

BP, Shell, Eni, Total, Statoil, and BG Group (a big gas company that Shell is acquiring) announced in a letter to Christiana Figueres, the top U.N. climate official, that they are joining forces for an initiative calling for carbon pricing, which is accomplished through emissions-trading systems or taxes.

Their effort reflects a strategic calculation for the companies that by engaging on the topic, they can help shape climate policies to benefit natural gas, which produces about half the carbon emissions of coal when burned to create electricity. Wider use of carbon pricing worldwide, depending on how stringent the policies, could benefit companies that produce gas and ship it around the globe in liquefied form."

Ben Geman reports for National Journal June 1, 2015.

SEE ALSO:

"Dear UN, Put a Price on Carbon. Yours Truly, Big Oil." (Christian Science Monitor)

"Oil Giants Support For UN Climate Pact Signals Change in Strategy" (RTCC)

Source: National Journal, 06/02/2015