ConocoPhillips, a company with major ties to Oklahoma, has taken a bold step in helping fund a multi-million dollar political advocacy campaign over carbon emissions.
It is joining forces with ExxonMobil in financing the campaign to lobby Congress for a tax on carbon. ConocoPhillips is committing $2 million over a two-year period to the group called Americans for Carbon Dividends.
According to a report by Axios, the $1 million a year contribution is nearly half of Conoco’s annual lobbying budget. The $2 million comes after ExxonMobil, the world’s biggest publicly traded oil company contributed $1 million.
Here’s how Axios reported the story.
In a big shift, ExxonMobil is now helping fund a multi-million dollar political advocacy campaign lobbying Congress for a price on carbon emissions.
Why it matters: This is a significant turning point in Washington’s mostly static climate debate. Exxon officials have said for years they support a carbon tax, but they haven’t backed that up with actual lobbying dollars — until now. This move increases the odds that Capitol Hill could consider big changes to climate and energy policy in the coming years.