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The American Petroleum Institute is preparing to endorse, in principle, a price on carbon emissions, according to a draft statement first reported by the Wall Street Journal.Why it matters: The endorsement of carbon pricing, which API said in its draft statement would "lead to the most economic paths to achieve the ambitions of the Paris Agreement,” would signal an evolving climate stance from the oil industry's top lobbying group.Get market news worthy of your time with Axios Markets. Subscribe for free.Yes, but: The Journal reports that API's draft statement supports pricing "instead of mandates or prescriptive regulatory action," meaning it likely wouldn't be backed by Democrats in Congress.The posture comes as the Biden administration is planning a suite of new climate rules, and pricing is not a high climate priority in Congress.It also remains to be seen whether API will aggressively lobby for carbon pricing or just voice its support, which wo