coal-power
Even though it could idle some lawyers, partners from Baker Botts, Jackson Walker and Haynes and Boone—all Texas-based firms with corporate oil and gas clients—voiced tentative support this week for legislation that would tax carbon emissions while gutting environmental regulation.
They were reacting to news that ExxonMobil, Shell and BP had decided to back a carbon tax proposal outlined earlier this year by a coalition led by former Secretary of State James Baker. The energy companies published an ad in The Wall Street Journal this week to announce their support for Baker’s carbon tax ideas.
“I think it’s incredible to have Exxon’s support,” said Megan Berge, a partner in the Washington, D.C., office of Baker Botts, who stressed she was only speaking for herself and not any particular client or for Baker, who is also a partner at the firm.
“I see the endorsement of this by the world’s largest gas producers as game-changing,” said Amy Baird, a Jackson Walker partner in Houston.
But Baird added: “No question, it would mean less work for litigators.”
Baker and his coalition, composed largely of former Republican White House administration officials, introduced in February a proposal to have Congress authorize a carbon tax that would provide cash dividends to Americans. In exchange, the plan would roll back most of the Environmental Protection Agency’s authority to police emissions.
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