New York City is suing BP, Chevron, ConocoPhillips, Exxon Mobil and Royal Dutch Shell, saying that each has contributed to global warming and has cost the city billions of dollars as it has tried to mitigate the harm done from such things as deviant weather patterns. The oil giants, though, are firing back, noting that they are on board with efforts to reduce heat-trapping emissions.
Corporate America has a fiduciary responsibility to maximize profits for shareholders. So how does a carbon tax fit into this scheme? Alex Russell for the Bozeman Daily in Montana writes that a multitude of multinationals have saved millions in utility expenses by incentivizing low-carbon strategies. He points specifically to Walmart, Intel, … Read more »