US carbon price still some way off

Political reality means moves towards establishing a carbon price or a cap-and-trade system will at least have to wait until after mid-term elections

President Joe Biden may attempt to adopt a federal carbon tax or cap-and-trade system in the future, based on his campaign policy platform and long-held positions by key members of his administration. But, for a combination of political and practical reasons, the earliest he is likely to try is after the 2022 mid-term Congressional elections. This is despite the American Petroleum Institute (API), the largest oil and gas lobby group in the US, jumping on the carbon pricing bandwagon. “Biden has two years until the next electoral cycle, and needs to use it digging the US out of an economic hole and trying to win Congress” Cosbey, IISD On 25 March, the board of the API voted to suppor