Carbon tax
hideA carbon tax is an environmental tax on emissions of carbon dioxide and other greenhouse gases. It is an example of a pollution tax.
Carbon atoms are present in every fossil fuel (coal, petroleum, and natural gas) and are released as CO2 when they are burnt. In contrast, non-combustion energy sources—wind, sunlight, hydropower, and nuclear—do not convert hydrocarbons to carbon dioxide. Accordingly, a carbon tax is effectively a tax on the use of fossil fuels, and only fossil fuels. Some schemes also include other greenhouse gases; the global warming potential is an internationally accepted scale of equivalence for other greenhouse gases in units of tonnes of carbon dioxide equivalent.
Because of the link with global warming, a carbon tax is sometimes assumed to require an internationally administered scheme. However, that is not intrinsic to the principle. The European Union considered a carbon tax covering its member states prior to starting its emissions trading scheme in 2005. The UK has unilaterally introduced a range of carbon taxes and levies to accompany the EU ETS trading regime. Note that emissions trading systems do not constitute a Pigovian tax, because they entail the creation of a property right.
The purpose of a carbon tax is to protect the environment by reducing emissions of carbon dioxide and thereby slow climate change. It can be implemented by taxing the burning of fossil fuels—coal, petroleum products such as gasoline and aviation fuel, and natural gas—in proportion to their carbon content. Unlike other approaches such as carbon cap-and-trade systems, direct taxation has the benefit of being easily understood and can be popular with the public if the revenue from the tax is returned by reducing other taxes. Alternatively, it may be used to fund environmental projects.
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News tagged with carbon tax
Europe bids to tax personal fuel consumption
Oct 02, 2009 |
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A Europe-wide tax on personal or household fuel consumption was proposed on Friday as EU finance ministers met to discuss who should pay what in the fight against global warming.
France moves to bring in carbon tax by 2011
Jun 10, 2009 |
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The French government on Wednesday kickstarted plans for a so-called carbon tax on energy-hungry products, to be rolled out by 2011 as part of France's efforts to slash global warming emissions.
Experts say cap and trade not enough
Apr 13, 2009 |
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A team of researchers at Carnegie Mellon University report in a new policy brief that cap and trade climate policies alone will not be sufficient to put the nation on track to achieve a 50 to 80 percent reduction in greenhouse ...
Tackling climate change with new permits to pollute
Jan 06, 2009 |
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A new way to reduce carbon dioxide emissions and tackle climate change had been unveiled by leading economists.
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Netherlands to levy 'green' road tax by the kilometre
Nov 13, 2009 |
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The Dutch government said Friday it wants to introduce a "green" road tax by the kilometre from 2012 aimed at cutting carbon dioxide emissions by 10 percent and halving congestion.
Who wants to pay more for green electricity?
Jul 02, 2009 |
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A research report in the International Journal of Environment and Pollution suggests that individuals prefer to be involved in a collective contribution to green electricity that involve everyone paying more, rather than h ...
Gore, others urge CEOs to back climate change deal
May 24, 2009 |
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(AP) -- Climate-change heavyweights U.N. chief Ban Ki-moon and Nobel prize winner Al Gore urged more than 500 business leaders on Sunday to lend their corporate muscle to reaching a global deal on reducing ...
UM Professor: Consumers 'key part of solution' to global warming
Oct 16, 2009 |
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(PhysOrg.com) -- Consumers can have a major impact on the world’s efforts to reduce global warming, a major report has concluded.
Global CEOs back greenhouse gas cuts, carbon caps
May 26, 2009 |
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(AP) -- A global summit of business leaders urged governments to order steep and mandatory cuts in greenhouse gases Tuesday, favoring a cap-and-trade system instead of a tax to set a market price for carbon ...
Calif. board postpones decision on pollution tax
Jun 26, 2009 |
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(AP) -- California regulators on Thursday delayed a decision on whether to implement the nation's first statewide carbon fee on utilities, oil refineries and other polluting industries.
Water heaters put solar energy within reach
Jan 21, 2009 |
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Andrei Mitran of Cary says he has no desire to live "off the grid." But when choosing a replacement for his 18-year-old hot water heater, the computer programmer says he decided to look into purchasing a solar unit.
Harnessing the sun
Oct 05, 2009 |
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The American Solar Energy Society's 2009 National Solar Tour took place Oct. 3 in 3,000 communities.
Wood stoves -- a viable home heat source?
Jul 14, 2009 |
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The stress of rising natural gas prices is leading many consumers to rethink how they heat their homes. For some this means moving towards modern alternative energy options, while others have been turning to a more traditional ...
Put the Trees in the Ground: A solution for the global carbon dioxide problem?
May 13, 2008 |
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Of the current global environmental problems, the excessive release of carbon dioxide from the combustion of fossil fuels and the related global warming is one of the most pressing.
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