BP: Put a price on carbon

A price on carbon is the "missing link" in the world's quest to increase energy efficiency, reduce emissions and develop alternatives to hydrocarbons, accoridng to BP's chief executive

Addressing delegates at a conference in India, Tony Hayward said such a carbon price should apply equally to all carbon, "whether from a smokestack or a tailpipe". Carbon pricing would make "energy conservation more attractive and alternative energy more cost competitive". It would also allow "informed investment" in technology and fossil fuels, which will continue to dominate the energy landscape for decades, Hayward said. "Plans for a US cap-and-trade system are before Congress. Australia also has a system under development. We now need moves at the global level to strengthen, extend, and ultimately link these systems." Hayward extended this plea to other areas or regulation, saying that t