• 4 minutes Why Trump Is Right to Re-Open the Economy
  • 7 minutes Did Trump start the oil price war?
  • 11 minutes Covid-19 logarithmic growth
  • 15 minutes Charts of COVID-19 Fatality Rate by Age and Sex
  • 18 minutes China Takes Axe To Alternative Energy Funding, Slashing Subsidies For Solar And Wind
  • 7 hours Dr. Fauci is over rated.
  • 16 mins TRUMP pushing Hydroxychloroquine + Zpak therapy forward despite FDA conservative approach. As he reasons, "What have we got to lose ?"
  • 2 hours China extracts record amount of natural gas from Gas Hydrates in South China Sea
  • 5 hours Western Canadian Select selling for $6.48 bbl. Enbridge charges between $7 to $9 bbl to ship to the GOM refineries.
  • 18 hours Dept of Energy ditches plans to buy Crude Oil for SPR
  • 8 hours Where's the storage?
  • 2 hours Hillary Clinton tweeted a sick Covid joke just to attack Trump
  • 4 hours Oxford Epidemiologist: Here’s Why That Covid-19 Doomsday Model Is Likely Way Off
  • 19 hours Wastewater Infrastructure Needs
  • 1 day Analysis into the Iran Outbreak
  • 19 hours >>The falling of the Persian Gulf oil empires is near <<
What Happens If U.S. Shale Goes Bust?

What Happens If U.S. Shale Goes Bust?

The oil price war and…

Oil Prices Are Set To Plunge Again

Oil Prices Are Set To Plunge Again

Oil prices have been on…

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