API appears poised to delay release of carbon tax proposal

The American Petroleum Institute (API) has drafted a carbon tax proposal starting at $35-$50 per ton on entities such as gasoline wholesalers and power plants, though the group reportedly is likely to delay release of the plan until after the November midterms. The Wall Street Journal is reporting on the group’s emerging policy rollout, which follows API’s formal embrace early last year of an “economy-wide government carbon price policy” as an alternative to other climate mitigation options. The...