Comments on: Shocker: Exxon CEO Wants A Carbon Tax

By: proreason

proreason — Fri, 09 Jan 2009 20:52:58 +0000

This should say”

“The reason Cap and Trade will NOT affect his P&L is that it will be a fine directly to companies and will NOT impact operating margin. Exxon has high energy costs to extract, transport, refine and deliver petroleum products and therefore will have to pay high fines.”

By: U NO HOO

U NO HOO — Fri, 09 Jan 2009 20:06:06 +0000

When rape is inevitable, relax and enjoy it. Rex Tillerson has realized this fact.

My apology in advance.

Flame away!

By: JohnMG

JohnMG — Fri, 09 Jan 2009 20:03:05 +0000

Typical. Kick the can down the road. Either way, any businessman understands that the end consumer is the one paying the tarriff.

All this does is further mask what is actually going on.

By: Confucius

Confucius — Fri, 09 Jan 2009 19:49:49 +0000

Isn’t it terrific that Mr. Tillerson likes his bread buttered on the other side? I was worried he might not like bending over.

By: proreason

proreason — Fri, 09 Jan 2009 19:44:22 +0000

A gas tax will not affect Exxon’s P&L. Cap and Trade will. He’s protecting share-holder value.

It has nothing to do with global warming.

The reason Cap and Trade will afect his P&L is that it will be a fine directly to companies and will impact operating margin. Exxon has high energy costs to extract, transport, refine and deliver petroleum products and therefore will have to pay high fines.

If a gas tax does hit his P&L (I’m not sure), then it is unlikely to impact his operating margin, since it isn’t a direct cost to Exxon.

If there is an O&G accountant who reads this blog, please confirm or deny.