Friday, November 9, 2012

White House says Obama is not planning a carbon tax proposal

A glimmer of moderation or a realization that it would never make it past the House or Senate?

"President Obama has no plans to propose a tax on carbon emissions, a White House official said.

“The Administration has not proposed nor is planning to propose a carbon tax,” the official said.

Imposing a tax on fossil energy sources to curb greenhouse gas emissions faces huge political hurdles. But the idea has nonetheless received increased attention of late, especially as policymakers seek ways to address the deficit.

The concept drew fresh buzz this week when an analyst with banking giant HSBC predicted that Obama might pursue a carbon tax.

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