Cronyism at work - Exxon and the White House

From Bloomberg:

Carbon Fee From Obama Seen Viable With Backing From Exxon
Exxon Mobil Corp. is part of a growing coalition backing a carbon tax as an alternative to costly regulation, giving newfound prominence to an idea once anathema in Washington.

Conservative economists and fossil-fuel lobbyists united in 2009 to fend off climate-change legislation that would have established a cap-and-trade mechanism. They are now locked in a backroom debate over a tax on carbon-dioxide emissions that could raise an estimated $100 billion in its first year.

A carbon tax would force electricity producers, refiners and manufacturers to pay a fee for the greenhouse gases they emit. It is gaining interest as lawmakers and President Barack Obama pledge to simplify the corporate tax code and raise revenue to narrow the deficit. The devastation from superstorm Sandy following the wildfires and drought of this summer have also increased concern about global warming.

Another perfect example of unintended consequences. This 'tax' may raise $100B but it will impose that plus another $100B on consumers in the form of higher prices for trucked items (everything), higher fuel costs, higher electricity costs, etc... Our Federal Government spends about $10B each day so this added revenue will last us less than two weeks out of the fiscal year. A drop in the bucket.