• 5 minutes Is Pete Buttigieg emerging as the most likely challenger to Trump?
  • 7 minutes Can LNG Kill Oil?
  • 8 minutes Question: Why are oil futures so low through 2020?
  • 11 minutes US Shale: Technology
  • 1 hour “The era of cheap & abundant energy is long gone. Money supply & debt have grown faster than real economy. Debt saturation is now a real risk, requiring a global scale reset.”"We are now in new era of expensive unconventional energy
  • 2 hours CoV-19: China, WHO, myth vs fact
  • 6 hours Blowout videos
  • 1 day Question - What if there are no buyers for Chevron's Appalachia Assets?
  • 1 hour Democrats Plan "B" Bloomberg Implodes. Plan "C" = John Kerry ?
  • 2 hours Don't sneeze. Coronavirus is a threat to oil markets and global economies
  • 2 days OIL trades as if the virus is a 1 quarter event. As if it's Containable, Reversible and Temporary. Is it ?
  • 21 hours Natural Gas
  • 2 days Energy from thin air?
  • 24 hours Cheap natural gas is making it very hard to go green
  • 2 days Coronovairus, Phase One Agreement, Lower for Longer
  • 2 days Hey NYC - Mayor De Blasio declares you must say goodbye to fossil fuels. Get ready to freeze your Virtue Signaling butts off.
Another Major Car Maker Is Backing Hydrogen

Another Major Car Maker Is Backing Hydrogen

The hydrogen fuel cell market has…

China Announces Plans to Tax Carbon Emissions

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