The Corner

Exxon’s CEO Calls for Tax on Carbon Dioxide Emissions

Wall Street Journal has the story, here.  Rex Tillerson’s reasoning is that it’s the lesser of evil alternatives on the table, particularly the cap-and-trade scam which he believes, the paper reports, “would be costly, bureaucratic and create a ‘Wall Street of emissions brokers.’” 

He’s right about that, but the story is depressing.  And it’s the sort of thing we’re going to see more and more of.  As the government spreads its tentacles ever further into the private economy, business will be under ever greater pressure to accept the political class’s prevailing pieties.  Not only can government squeeze business more if it’s now effectively running the businesses; CEOs will further see accepting the political class’s premises as the best way (the lesser evil) of controlling damage on the remedial end.  Thus, business accepts that (a) the planet is undeniably warming (questionable), (b) this warming is proximately and principally caused by human activity (dubious, to say the least), and (c) even during a financial melt-down, this warming is worth the cost of — and is likely to be cured by — heavy regulations and taxes on business activity (preposterous) … all for the lesser evil of easing (and, for the big guys, teeing it up to profit from) the curative measures taken to address the “crisis.” 

It’s the express train to bad policy and social unrest:  a system that moves straight to radical surgery before there is a credible diagnosis or a consensus about how bad the disease is.

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