• 4 minutes Projection Of Experts: Oil Prices Expected To Stay Anchored Around $65-70 Through 2023
  • 7 minutes Oil prices forecast
  • 11 minutes Algorithms Taking Over Oil Fields
  • 14 mintues NIGERIAN CRUDE OIL
  • 3 hours UK, Stay in EU, Says Tusk
  • 3 hours Nuclear Power Can Be Green – But At A Price
  • 3 mins Chevron to Boost Spend on Quick-Return Projects
  • 20 hours Blame Oil Price or EVs for Car Market Crash? Auto Recession Has Started
  • 8 hours Socialists want to exorcise the O&G demon by 2030
  • 4 hours U.S. Treasury Secretary Mnuchin Weighs Lifting Tariffs On China
  • 16 hours Venezuela continues to sink in misery
  • 10 hours What will Saudi Arabia say? Booming Qatar-Turkey Trade To Hit $2 bn For 2018
  • 7 hours Maritime Act of 2020 and pending carbon tax effects
  • 1 day WSJ: Gun Ownership on Rise in Europe After Terror Attacks, Sexual Assaults
  • 1 day How Is Greenland Dealing With Climate Change?
  • 10 hours German Carmakers Warning: Hard Brexit Would Be "Fatal"
  • 1 day Trump inclined to declare national emergency if talks continue to stall - Twitter hides this as "sensitive material"
  • 2 hours Regular Gas dropped to $2.21 per gallon today
Oil May Never Return To The Triple-Digits

Oil May Never Return To The Triple-Digits

Fewer and fewer energy professionals…

China Announces Plans to Tax Carbon Emissions

Carbon taxes are becoming an increasingly popular way for governments to earn extra revenue, whilst at the same time contributing to carbon emission targets. There are many different types of carbon tax but they generally work by taxing the carbon emissions produced by burning fossil fuels.

A senior official at the Chinese Ministry of Finance has now announced that China plans to introduce a series of new taxes which will protect the environment, including a carbon tax.

The environmental protection taxes will be collected by local tax authorities rather than the environmental protection department, although when the taxes are set to take effect is still to be released.

Related article: Analysing the Link between Air Pollution and Heart Attacks

Just a few days ago two US senators, Barbara Boxer and Bernie Sanders, also proposed that a carbon tax be introduced as part of a Climate Protection Act. The carbon tax would only effect less than 3,000 organisations across the US, but in doing so it covers 85% of the nation’s greenhouse gas emissions. The proposed act would end fossil fuel subsidies and protect communities and the environment from pollution caused by fossil fuel operations.

It is likely that the proposal will meet strong opposition, especially from fossil fuel lobbies, just as Australia’s Prime Minister Julia Gillard has been attacked for introducing a carbon tax there. For once maybe China’s style of governance will prove to be a boon.

By. Joao Peixe of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News