Companies Plan for Carbon Tax

JOLIET, IL - MARCH 8: Storage tanks stand inside a fence surrounding an ExxonMobil oil refinery March 8, 2005 in Joliet, Illinois. Gasoline prices nationwide have climbed in the past two weeks and are expected to remain above two dollars per gallon throughout the summer months.  (National Journal)

The idea of a carbon tax is a nonstarter for most conservative lawmakers. But more than two dozen of the U.S.'s largest companies, including major oil and gas operations, think a tax on carbon is inevitable and are factoring it into their long-term financial plans, The New York Times reports.

The information comes as a finding in a new report by U.K.-based environmental research firm the Carbon Disclosure Project. According to the report, companies planning for the introduction of a carbon tax in the U.S. include oil and gas heavyweight Exxon Mobil, Duke Energy, American Electric Power, General Electric, and DuPont, an American chemical company.

"It's climate change as a line item," said Tom Carnac, CDP's North American president, in reference to the business decision being made by these companies to factor a carbon tax into future plans. "They're looking at it from a rational perspective, making a profit. It drives internal decision-making."

Read the full report here.