Washington state carbon tax poised to fail after Big Oil campaign

By Nichola Groom, CNBC.

Nov 7 (Reuters) - Washington state was heading towards rejecting a ballot initiative to create the first carbon tax in the United States, a tally of about 80 percent of votes showed early on Wednesday, after an oil industry campaign argued it would hurt the economy.

The Carbon Emissions Fee and Revenue Allocation Initiative, known as Initiative 1631, would have imposed a $15 fee on each metric ton of carbon emissions, rising $2 a year until the state's 2035 emissions target is met.