We know Obamarama is going to tax the rich, but I bet many didn't think he would weasel in the carbon tax as quickly as he is going to now. A Romney win would have been bullish for coal producers in the US – but Romney lost, and now so has coal, at least in the near term. The biggest winner from Obamarama? Natural gas.
Exxon Mobil Corp (XOM) is now supporting Obama in bringing a carbon tax to the US.
Why would Exxon – and other big energy companies – join forces to bring on the carbon tax?
The answer is simple: profits. Continue reading "Is a Carbon Tax a Done Deal for the US?"