There is a section within Royal Dutch Shell’s 2012 sustainability report, released last spring, which describes the oil company’s self-imposed carbon pollution price. Yes, you read those last three words correctly and they are not a typo. Although Shell is a public advocate for a “strong and stable price on carbon emissions,” the company is “not waiting for government policy to develop” carbon pollution prices, as it states in the report.
Back in 2009, critics charged that Shell, along with other oil companies, supported climate change denial. Fast forward to present day and that same company states in its report that it considers “the potential cost of a project’s carbon emissions” which it sets at $40 a ton.
Think Progress reports that if Shell’s carbon pollution price were an actual national carbon tax, $0.35 a gallon would be added to the price at the pump. It would also add $0.04 a kilowatt hour (kWh) to coal power’s price, and “might cut U.S. carbon emissions more than 20 percent below current levels, which are already more than 10 percent below 2005 levels.”Click to continue reading »