Battle Over: Big Energy Companies Getting Ready For Carbon Regs

Major energy companies have acknowledged that global warming regulation that puts a price on carbon is coming, and they are budgeting for it. They are among 29 companies that are incorporating a price on carbon into their financial projections, according to a survey by the data firm CDP. Some companies are adjusting their business plans in a way that will benefit from it. Exxon-Mobil, for example – formerly a bankroller of global warming skeptics – has accepted the basic climate change premise, increased its commitment to natural gas, and is now the nation’s largest natural gas producer. However, one energy company that has a long history of being at odds with the industry remains a holdout, and a major contributor to Tea Party groups and the American Energy Alliance, an advocacy group that campaigns against candidates who support a carbon price.