A carbon tax system—recently gaining approval by several U.S. shale companies—would be bad for the oil and gas industry, according to Vicki Hollub, CEO of Occidental Petroleum Corp., which has been working to position itself as a carbon management company.

“A carbon tax is not what we’re pushing at all,” Hollub said during a keynote address at the recently held virtual summit of the Texas Independent Producers and Royalty Owners Association (TIPRO).

“A carbon tax would be bad for a lot of the industry,” she continued. “A carbon tax would be bad for the consumers and especially for those consumers who are more disadvantaged from an economic standpoint.”

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