• 2 hours Syrian Rebels Relinquish Control Of Major Gas Field
  • 3 hours Schlumberger Warns Of Moderating Investment In North America
  • 4 hours Oil Prices Set For Weekly Loss As Profit Taking Trumps Mideast Tensions
  • 5 hours Energy Regulators Look To Guard Grid From Cyberattacks
  • 6 hours Mexico Says OPEC Has Not Approached It For Deal Extension
  • 8 hours New Video Game Targets Oil Infrastructure
  • 9 hours Shell Restarts Bonny Light Exports
  • 11 hours Russia’s Rosneft To Take Majority In Kurdish Oil Pipeline
  • 17 hours Iraq Struggles To Replace Damaged Kirkuk Equipment As Output Falls
  • 22 hours British Utility Companies Brace For Major Reforms
  • 1 day Montenegro A ‘Sweet Spot’ Of Untapped Oil, Gas In The Adriatic
  • 1 day Rosneft CEO: Rising U.S. Shale A Downside Risk To Oil Prices
  • 1 day Brazil Could Invite More Bids For Unsold Pre-Salt Oil Blocks
  • 1 day OPEC/Non-OPEC Seek Consensus On Deal Before Nov Summit
  • 1 day London Stock Exchange Boss Defends Push To Win Aramco IPO
  • 1 day Rosneft Signs $400M Deal With Kurdistan
  • 1 day Kinder Morgan Warns About Trans Mountain Delays
  • 2 days India, China, U.S., Complain Of Venezuelan Crude Oil Quality Issues
  • 2 days Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 2 days Russia, Saudis Team Up To Boost Fracking Tech
  • 2 days Conflicting News Spurs Doubt On Aramco IPO
  • 2 days Exxon Starts Production At New Refinery In Texas
  • 2 days Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 3 days Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 3 days Oil Gains Spur Growth In Canada’s Oil Cities
  • 3 days China To Take 5% Of Rosneft’s Output In New Deal
  • 3 days UAE Oil Giant Seeks Partnership For Possible IPO
  • 3 days Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 3 days VW Fails To Secure Critical Commodity For EVs
  • 3 days Enbridge Pipeline Expansion Finally Approved
  • 3 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 3 days OPEC Oil Deal Compliance Falls To 86%
  • 4 days U.S. Oil Production To Increase in November As Rig Count Falls
  • 4 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 4 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 4 days EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 4 days Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 4 days Aramco Says No Plans To Shelve IPO
  • 7 days Trump Passes Iran Nuclear Deal Back to Congress
  • 7 days Texas Shutters More Coal-Fired Plants
The Natural Gas Market Is Set To Boom

The Natural Gas Market Is Set To Boom

With the new lower-for-longer oil…

Global Energy Advisory Friday 20th October, 2017

Global Energy Advisory Friday 20th October, 2017

As tensions surrounding Kurdistan rise,…

Is Japan's New Carbon Tax the Final Straw for its Energy Sector?

Is Japan's New Carbon Tax the Final Straw for its Energy Sector?

Japan has just announced that it will gradually introduce a new tax on carbon emissions for oil, natural gas, and coal, over the next five years. Energy costs are already very high since the closing down of all the countries nuclear power plants, and these new taxes will only see those costs increase.

The tax will be introduced in three phases, with the first phase increasing existing levies by 12-31 percent, costing utilities an estimated $1.02 billion each year from 2016.

So far, in order to try and protect the public from high energy prices the utilities have been funding the high cost energy purchases by building up debt. The new carbon taxes could force the utilities to start passing on the increased cost to their customers.

Related Article: Japan Steps Away from Nuclear Power

Yu Nagatomi, a researcher at the Institute of Energy Economics of Japan, said that now is the “time for an open and honest discussion of who is going to pay for the increased fuel bills.”

Nippon Keidanren, Japan’s largest business lobby has pleaded with the government to rethink the new tax, fearing that it could raise energy costs for businesses even further and force some companies to move abroad.

By. Joao Peixe of Oilprice.com



Join the discussion | Back to homepage

Leave a comment
  • Herman on October 13 2012 said:
    Japan has just committed economic suicide.
  • David B. Benson on October 10 2012 said:
    Further meltdown of Japan Inc.

Leave a comment

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