Tillerson announced in 2009 that ExxonMobil favored a carbon tax as "the most efficient means of reflecting the cost of carbon in all economic decisionsfrom investments made by companies to fuel their requirements to the product choices made by consumers". In October 2016, less than two months before his nomination as Secretary of State, he reaffirmed that ExxonMobil believed a carbon tax would be "the best policy of those being considered. Replacing the hodge-podge of current, largely ineffective regulations with a revenue-neutral carbon tax would ensure a uniform and predictable cost of carbon across the economy... allow market forces to drive solutions... maximize transparency, reduce administrative complexity, promote global participation and easily adjust" to new knowledge in climate science and in the policy consequences of various courses of action.