NationMaster - Encyclopedia: Carbon tax

A carbon tax is a tax on emissions of carbon dioxide and other greenhouse gases. It is an example of a pollution tax, which some economists favor because they tax a "bad" rather than a "good" (such as income). Taxing something that is undesirable is favoured by economists as a method to confront users with the external cost of carbon and hence reduce emissions to efficient levels. This "carbon tax" is a direct tax on carbon dioxide, which is generated as a byproduct of the combustion of fossil fuels, among other processes. If the carbon tax equals the social cost of carbon, it is an example of a Pigovian tax. Not to be confused with Political economy. ... Tax rates around the world Tax revenue as % of GDP Economic policy Monetary policy Central bank Money supply Fiscal policy Spending Deficit Debt Trade policy Tariff Trade agreement Finance Financial market Financial market participants Corporate Personal Public Banking Regulation Monetary policy is the process by which the government, central bank... In macroeconomics, money supply (monetary aggregates, money stock) is the quantity of currency and money in bank accounts in the hands of the non-bank public available within the economy to purchase goods, services, and securities. ... For other uses, see Gold standard (disambiguation). ... Fiscal policy is the economic term that defines the set of principles and decisions of a government in setting the level of public expenditure and how that expenditure is funded. ... Government spending or government expenditure consists of government purchases, which can be financed by seigniorage (the creation of money for government funding, at a heavy price of high inflation and other possibly devastating consequences), taxes, or government borrowing. ... This article is about budget deficits. ... Tax rates around the world Tax revenue as % of GDP Economic policy Monetary policy Central bank Money supply Fiscal policy Spending Deficit Debt Trade policy Tariff Trade agreement Finance Financial market Financial market participants Corporate Personal Public Banking Regulation Government debt (also known as public debt or national debt) is... This article does not cite any references or sources. ... Tax rates around the world Tax revenue as % of GDP Economic policy Monetary policy Central bank Money supply Fiscal policy Spending Deficit Debt Trade policy Tariff Trade agreement Finance Financial market Financial market participants Corporate Personal Public Banking Regulation For other uses of this word, see tariff (disambiguation). ... A trade pact is a wide ranging tax, tariff and trade pact that usually also includes investment guarantees. ... The field of finance refers to the concepts of time, money and risk and how they are interelated. ... This article does not cite any references or sources. ... There are two basic financial market participant catagories, Investor vs. ... Domestic credit to private sector in 2005 Corporate finance is an area of finance dealing with the financial decisions corporations make and the tools and analysis used to make these decisions. ... -1... Economic policy Monetary policy Central bank Money supply Gold standard Fiscal policy Spending Deficit Debt Policy-mix Trade policy Tariff Trade agreement Finance Financial market Financial market participants Corporate Personal Public Regulation Banking Fractional-reserve Full-reserve Free banking Islamic Public finance is a field of economics concerned with paying... For other uses, see Bank (disambiguation). ... Fractional-reserve banking refers to a financial system in which some fraction of the deposits can be used to finance profitable but illiquid investments. ... Economic policy Monetary policy Central bank Money supply Gold standard Fiscal policy Spending Deficit Debt Policy-mix Trade policy Tariff Trade agreement Finance Financial market Financial market participants Corporate Personal Public Regulation Banking Fractional-reserve Full-reserve Free banking Islamic Full-reserve banking is the banking practice in which the... Please wikify (format) this article or section as suggested in the Guide to layout and the Manual of Style. ... Islamic banking refers to a system of banking or banking activity that is consistent with Islamic law (Sharia) principles and guided by Islamic economics. ... Taxes redirects here. ... Carbon dioxide (chemical formula: ) is a chemical compound composed of two oxygen atoms covalently bonded to a single carbon atom. ... Top: Increasing atmospheric levels as measured in the atmosphere and ice cores. ... Ecotax, short for Ecological taxation, can refer to: A fiscal policy that introduces taxes intended to promote ecologically sustainable activities via economic incentives. ... Alan Greenspan, former chairman, United States Federal Reserve. ... An externality occurs in economics when a decision (for example, to pollute the atmosphere) causes costs or benefits to individuals or groups other than the person making the decision. ... A Pigovian tax is a tax levied to correct the negative externalities of an activity. ...

Carbon atoms are present in every fossil fuel (coal, oil and 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. Global warming potential (GWP) is a measure of how much a given mass of greenhouse gas is estimated to contribute to global warming. ...

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 it entails the creation of a property right. Nonetheless, both taxes and tradable permits put a price on emissions, and that price is equal to all parties involved. Therefore, emission reduction targets are met at minimum cost. Global warming refers to the increase in the average temperature of the Earths near-surface air and oceans in recent decades and its projected continuation. ... Emissions trading (or cap and trade) is an administrative approach used to control pollution by providing economic incentives for achieving reductions in the emissions of pollutants. ... For energy use in practice, see Energy use and conservation in the United Kingdom The Energy policy of the United Kingdom is a set of official publications and activities directed at the present and future production, transmission and use of various power technologies within the UK. Historically a country emphasizing... The Climate Change Levy (CCL) is a tax on energy delivered to non-domestic users in the United Kingdom. ... The European Union Emission Trading Scheme (EU ETS) is the largest multi-national, greenhouse gas emissions trading scheme in the world. ... A Pigovian tax is a tax levied to correct the negative externalities of an activity. ...

The intention of a carbon tax is environmental: to reduce 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.^[1] This article is about the natural environment. ... Global warming refers to the increase in the average temperature of the Earths near-surface air and oceans in recent decades and its projected continuation. ... Petrol redirects here. ... Emissions trading (or cap and trade) is an administrative approach used to control pollution by providing economic incentives for achieving reductions in the emissions of pollutants. ...

Background

In economic theory, pollution is considered a negative externality because it has a negative effect on a party not directly involved in a transaction. An externality occurs in economics when a decision (for example, to pollute the atmosphere) causes costs or benefits to individuals or groups other than the person making the decision. ...

To confront parties with the issue, the economist Arthur Pigou proposed taxing the goods (in this case fossil fuels) which were the source of the negative externality (carbon dioxide) so as to accurately reflect the cost of the goods' production to society, thereby internalizing the costs associated with the goods' production. A tax on a negative externality is termed a Pigovian tax, and should equal the marginal damage costs. Arthur Cecil Pigou (November 18, 1877 _ March 7, 1959) was an English economist, known for his work in many fields and particularly in welfare economics. ... A Pigovian tax is a tax levied to correct the negative externalities of an activity. ...

A carbon tax is an indirect tax — a tax on a transaction — as opposed to a direct tax, which taxes income. As a result, some American conservatives have supported such a carbon tax because it taxes at a fixed rate, independent of income, which complements their support of a flat tax.^[2] The term indirect tax has more than one meaning. ... Tax rates around the world Tax revenue as % of GDP Economic policy Monetary policy Central bank Money supply Fiscal policy Spending Deficit Debt Trade policy Tariff Trade agreement Finance Financial market Financial market participants Corporate Personal Public Banking Regulation The term direct tax has more than one meaning: a colloquial... American conservatism is a constellation of political ideologies within the United States under the blanket heading of conservative. ... A flat tax, also called a proportional tax, is a system that taxes all entities in a class (typically either citizens or corporations) at the same rate (as a proportion on income), as opposed to a graduated, or progressive, scheme. ...

Prices of carbon (fossil) fuels are expected to continue increasing as more countries industrialize and add to the demand on fuel supplies. In addition to creating incentives for energy conservation, a carbon tax would put renewable energy sources such as wind, solar and geothermal on a more competitive footing, stimulating their growth. Former Federal Reserve chairman Paul Volcker suggested (February 6, 2007) that "it would be wiser to impose a tax on oil, for example, than to wait for the market to drive up oil prices."^[3] is the 37th day of the year in the Gregorian calendar. ... Year 2007 (MMVII) was a common year starting on Monday of the Gregorian calendar in the 21st century. ...

Social cost of carbon

Many estimates of aggregate net economic costs of damages from climate change across the globe, the social cost of carbon (SCC), expressed in terms of future net benefits and costs that are discounted to the present, are now available. Peer-reviewed estimates of the SCC for 2005 have an average value of US$43 per tonne of carbon (tC) (i.e., US$12 per tonne of carbon dioxide) but the range around this mean is large. For example, in a survey of 100 estimates, the values ran from US$–10 per tonne of carbon (US$–3 per tonne of carbon dioxide) up to US$350/tC (US$95 per tonne of carbon dioxide.)^[4] As recent estimates of the rate of global warming have increased, so have the financial estimates of the damage costs. ...

One must be very careful when comparing weights of carbon versus carbon dioxide, since carbon comprises only 27.29% (12.0107 / [12.0107 + 2 × 15.9994]) of the mass of carbon dioxide. In simple terms, there are only 27 tonnes of carbon in 100 tonnes of carbon dioxide.

In an October, 2006, report entitled the Stern Review by then HM Treasury official and former Chief Economist and Senior Vice-President of the World Bank, Nicholas Stern, he states that climate change could affect growth which could be cut by one-fifth unless drastic action is taken.^[5] Stern has warned that one percent of global GDP is required to be invested in order to mitigate the effects of climate change, and that failure to do so could risk a recession worth up to twenty percent of global GDP.^[6] Stern’s report^[7] suggests that climate change threatens to be the greatest and widest-ranging market failure ever seen. The report has had significant political effects: Australia reported two days after the report was released that they would allot AU$60 million to projects to help cut greenhouse gas emissions.^[8] The Stern Review has been criticized by some economists, saying that Stern did not consider costs past 2200, that he used an incorrect discount rate in his calculations, and that stopping or significantly slowing climate change will require deep emission cuts everywhere.^[9]^[10] Sir Nicholas Stern, author of the report. ... The position of World Bank Chief Economist is one of the most influential in economics. ... The World Bank logo The World Bank (the Bank) is a part of the World Bank Group (WBG), is a bank that makes loans to developing countries for development programs with the stated goal of reducing poverty. ... Nicholas Stern Sir Nicholas Stern, FBA (born 22 April 1946) is a British economist and academic. ... World GDP/capita changed very little for most of human history before the industrial revolution. ... GDP is an acronym which can stand for more than one thing: (in economics) an abbreviation for Gross Domestic Product. ... In macroeconomics, a recession is generally associated with a decline in a countrys real gross domestic product (GDP), or negative real economic growth. ... GDP is an acronym which can stand for more than one thing: (in economics) an abbreviation for Gross Domestic Product. ... The discount rate is a financial concept based on the future cash flow in lieu of the present value of the cash flow. ...

According to a 2005 report from the Association of British Insurers, limiting carbon emissions could avoid 80% of the projected additional annual cost of tropical cyclones by the 2080s.^[11] A June 2004 report by the Association of British Insurers declared "Climate change is not a remote issue for future generations to deal with. It is, in various forms, here already, impacting on insurers' businesses now."^[12] It noted that weather risks for UK households and property were already increasing by 2–4% per year due to changing weather, and that claims for storm and flood damages in the UK had doubled to over £6 billion over the period 1998–2003, compared to the previous five years. As a result insurance premiums are rising. In the UK the insurance industry normally offers insurance against natural disasters, however there is a risk that in some areas flood insurance will become unaffordable for some, and it has been mooted that cover may be withdrawn in some areas entirely unless there is government backing.^[13] National Flood Insurance Program In 1968, Congress created the National Flood Insurance Program (NFIP) in response to the rising cost of taxpayer funded disaster relief for flood victims and the increasing amount of damage caused by floods. ...

In the U.S., according to Choi and Fisher (2003) each 1% increase in annual precipitation could enlarge catastrophe loss by as much as 2.8%.^[14] Financial institutions, including the world's two largest insurance companies, Munich Re and Swiss Re, warned in a 2002 study that "the increasing frequency of severe climatic events, coupled with social trends" could cost almost US$150 billion each year in the next decade.^[15] These costs would, through increased costs related to insurance and disaster relief, burden customers, taxpayers, and industry alike. Headquarters in Munich Munich Re AG, in German MÃ¼nchener RÃ¼ck AG, is one of the worlds largest reinsurance companies with over 5000 customers in 160 countries and has its headquarters in Munich, Germany. ... 30 St Mary Axe - at 180 m, Swiss Res London headquarters is the 6th tallest building in London Swiss Re is the worlds second-largest reinsurance company (after Munich Re/ MÃ¼nchener RÃ¼ck), and the worlds largest life and health reinsurer. ... The United States dollar is the official currency of the United States. ...

Border Issues

Concerns have been raised about carbon leakage which is the tendency for energy-intensive industries to migrate from nations with a carbon tax to those nations without a carbon tax where some of the receiving nations might be less energy-efficient. A possible antidote is for carbon-taxing countries to levy carbon-equivalent fees on imports from non-taxing nations. There is also the hope that American leadership through carbon-taxing would be reciprocated by other countries with an equal stake in climate protection. Carbon leakage occurs when there is an increase in carbon dioxide emissions by some countries in reaction to an emission reduction by countries with climate policy. ...

Petroleum (motor gasoline, diesel, jet fuel)

Many OECD countries have taxed fuel directly for many years for some applications; for example, the UK imposes duty directly on vehicle hydrocarbon oils, including petrol and diesel fuel. The duty is adjusted to ensure that the carbon content of different fuels is handled with equivalence.^[16] The Organization for Economic Co-operation and Development (OECD) is an international organization of those developed countries that accept the principles of representative democracy and a free market economy. ... Hydrocarbon oil duty is the name given to the excise duty levied on oils (mainly road vehicle fuels) in the United Kingdom. ... Gasoline, as it is known in North America, or petrol, in many Commonwealth countries (sometimes also called motor spirit) is a petroleum-derived liquid mixture consisting primarily of hydrocarbons, used as fuel in internal combustion engines. ... Diesel or diesel fuel (IPA: ) in general is any fuel used in diesel engines. ...

While a direct tax should send a clear signal to the consumer, its use as an efficient mechanism to influence consumers' fuel use has been challenged in some areas:^[17]

Some also note that a suitably priced tax on vehicle fuel may also counterbalance the "rebound effect" that has been observed when vehicle fuel consumption has improved through the imposition of efficiency standards. Rather than reduce their overall consumption of fuel, consumers have been seen to make additional journeys or purchase heavier and more powerful vehicles.^[18] In economics, elasticity is the ratio of the incremental percentage change in one variable with respect to an incremental percentage change in another variable. ... Rebound effect is the tendency of a medication to effect a return of the symptom being treated when the medication is discontinued or when it is no longer effective. ...

Calculation

Some states in the USA are considering the imposition of fuel taxes. One calculation method is as follows: According to the EIA, emissions total about 20 pounds of CO₂ per gallon of petroleum (2.4 kilograms per litre, 2.4 kg/L), so a tax of $100 per ton of CO₂ ($110 per tonne of CO₂) would translate to a tax of about $1.00 per gallon ($0.26 per litre). To be precise: Emissions are 19.564 pounds of CO₂ per gallon of motor gasoline, 22.384 pounds of CO₂ per gallon of diesel fuel, and 21.095 pounds of CO₂ per gallon of jet fuel (2344.3 g CO₂ per L of motor gasoline, 2682.2 g CO₂ per L of diesel fuel, and 2527.7 g CO₂ per L of jet fuel).^[19] So a tax of $100 per ton of CO₂ translates to a tax of $0.978 per gallon of motor gasoline, $1.119 per gallon of diesel fuel, and $1.055 per gallon of jet fuel ($0.258 per litre of motor gasoline, $0.296 per litre of diesel fuel, and $0.279 per litre of jet fuel). At a price between $2.50 and $5.00 per gallon, a tax of $100 per ton of CO₂ would raise fuel prices by 40–20%.

For the purpose of looking at electricity generation, emissions total about 155 pounds of CO₂ per million BTUs (66.6 g/MJ), so a tax of $100 per ton of CO₂ ($110 per tonne of CO₂) translates to a tax of about $7.75 per million BTUs ($7.35 per GJ). To be precise: The emissions are 156.425 pounds of CO₂ per million BTUs from motor gasoline, 161.386 pounds of CO₂ per million BTUs from diesel fuel, and 156.258 pounds of CO₂ per million BTUs from jet fuel (67.2506 g of CO₂ per MJ from motor gasoline, 69.3835 g of CO₂ per MJ from diesel fuel, 67.1788 g of CO₂ per MJ from jet fuel).^[19] So a tax of $100 per ton of CO₂ translates to a tax of $7.82 per million BTUs of motor gasoline, $8.07 per million BTUs of diesel fuel, and $7.81 per million BTUs of jet fuel ($7.41 per gigajoule (GJ) from motor gasoline, $7.65 per GJ from diesel fuel, $7.41 per GJ from jet fuel). Look up gigajoule in Wiktionary, the free dictionary. ... Look up gigajoule in Wiktionary, the free dictionary. ...

Natural gas

According to the EIA, emissions total 120.6 pounds of CO₂ per thousand cubic feet, i.e., 60.3 tons per million cubic feet, so a tax of $100 per ton of CO₂ translates to a tax of $6.03 per thousand cubic feet of natural gas.^[19] At a price of between $4 and $10 per thousand cubic feet, a tax of $100 per ton of CO₂ would raise natural gas prices by 60–150%.

For the purpose of looking at electricity generation: emissions total 117.08 pounds of CO₂ per million BTUs,^[19] so a tax of $100 per ton of CO₂ translates to a tax of $5.854 per million BTUs.

Coal

According to the EIA, emissions per ton of coal range from 1.40 tons of CO₂ to 2.84 tons of CO₂, depending on the type of coal (1.40 for lignite, 1.86 for subbituminous, 2.47 for bituminous, and 2.84 for anthracite, to be precise),^[19] so a tax of $100 per ton of CO₂ translates to a tax of between $140 and $284 per ton of coal, depending on the type ($140 for lignite, $186 for subbituminous, $247 for bituminous, and $284 for anthracite). The price of coal delivered to electric utilities nationwide averaged $27.34 per ton in 2004;^[20] for that price, a tax of $100 per ton of CO₂ means a price increase of 500–1,000% depending on the type (512% for lignite, 680% for subbituminous, 903% for bituminous, and 1039% for anthracite).

Because of the differences in the carbon content of different types of coal, it is easier to do the calculations in terms of BTUs rather than tons of coal. So: Emissions per million BTUs range from 205 to 227 pounds of CO₂ per million BTUs (215.4 for lignite, 212.7 for subbituminous, 205.3 for bituminous, and 227.4 for anthracite, to be precise),^[19] so a tax of $100 per ton of CO₂ translates to a tax of about $10 per million BTUs, depending on the type of coal ($10.77 for lignite, $10.635 for subbituminous, $10.265 for bituminous, and $11.37 for anthracite).

Electricity

The impact of a carbon tax on electricity prices depends on the amount of CO₂ generated along with the electricity, and that depends on the type of fuel used and the efficiency ("heat rate") of the generator. 3413 BTU = 1 kW·h.

In terms of fuel use, note from above that CO₂ emissions per million BTUs (293 kW·h) range from 117.08 pounds of CO₂ for natural gas and about 155 pounds of CO₂ for petroleum to between 205 and 227 pounds of CO₂ for coal, and that a tax of $100 per ton of CO₂ therefore translates into a tax per million BTUs that ranges from $5.854 per million BTUs for natural gas and about $7.75 per million BTUs for petroleum to between $10.27 and $11.37 per million BTUs for coal. For comparison purposes: in 2005, fuel prices to electricity generators per million BTU were $7.70 for oil, $8.18 for natural gas, $1.53 for coal, and $0.48 for nuclear.^[21]^[22] Current electricity prices are in the neighborhood of $0.08 per kW·h.

Old-style generators have a heat rate in the ballpark of 10,000 BTUs per kW·h.^[23]^[24] At that heat rate, a tax of $100 per ton of CO₂ translates into a tax of $0.05854 per kW·h for natural gas, about $0.0775 per kW·h for petroleum, and between $0.1027 and $0.1137 per kW·h for coal. As noted above, current electricity prices are in the neighborhood of $0.08 per kW·h.

New-style combined-cycle gas turbines currently (2005) use 6,572 BTUs per kW·h (51.93% efficient), a number that is expected to decline to 6,333 by 2015.^[22] At these heat rates, a tax of $100 per ton of CO₂ translates into a tax of $0.0385 per kW·h for natural gas using 2005 technology and a tax of $0.0371 per kW·h for natural gas using 2015 technology and considering only emissions at the generator.

New-style combined-cycle coal gasification units currently (2005) use 8,309 BTUs per kW·h (41.08% efficient), a number that is expected to decline to 7,200 by 2015.^[22] At these heat rates, a tax of $100 per ton of CO₂ translates into a tax of between $0.0853 and $0.0945 per kW·h for coal using 2005 technology and a tax of between $0.0739 and $0.0819 per kW·h for coal using 2015 technology and considering only emissions at the generator. Life cycle emissions from coal power tend to be concentrated at the generator, whereas with gas plants, upstream emissions can be more significant, depending on the source of the gas.

Implementation

On January 1, 1991, Sweden enacted a carbon tax, placing a tax of 0.25 SEK/kg ($100 per ton) on the use of oil, coal, natural gas, liquefied petroleum gas, petrol, and aviation fuel used in domestic travel. Industrial users paid half the rate (between 1993 and 1997, 25% of the rate), and certain high-energy industries such as commercial horticulture, mining, manufacturing and the pulp and paper industry were fully exempted from these new taxes. In 1997 the rate was raised to 0.365 SEK/kg ($150 per ton) of CO₂ released. In 2007, Sweden will raise taxes on carbon emissions.^[25] is the 1st day of the year in the Gregorian calendar. ... Year 1991 (MCMXCI) was a common year starting on Tuesday (link will display full calendar) of the Gregorian Calendar. ...

Finland, the Netherlands,^[26] and Norway also introduced carbon taxes in the 1990s. Motto: Je Maintiendrai (Dutch: Ik zal handhaven, English: I Shall Uphold) Anthem: Wilhelmus van Nassouwe Capital Amsterdam1 Largest city Amsterdam Official language(s) Dutch2 Government Parliamentary democracy Constitutional monarchy - Queen Beatrix - Prime minister Jan Peter Balkenende Independence Eighty Years War - Declared July 26, 1581 - Recognised January 30, 1648 (by Spain...

In Italy, carbon tax was introduced or modified with the article 8 of the law 23 December 1998, n. 448,^[27] according to the conclusions of the Kyoto Conference of 1–11 December 1997. is the 357th day of the year (358th in leap years) in the Gregorian calendar. ... Year 1998 (MCMXCVIII) was a common year starting on Thursday (link will display full 1998 Gregorian calendar). ...

The United Kingdom Treasury imposed the Fuel Price Escalator, an incrementally-increasing pollution tax, on retail petroleum products from 1993. The increases stopped after politically-damaging fuel protests in 1999, at which time tax and duty represented more than 75% of the total pump price. Tax now represents about ⅔ of the pump price.^[28] The Fuel Price Escalator (FPE) was the practice of automatically increasing hydrocarbon oil duty (better known as fuel tax) in the United Kingdom ahead of inflation. ... Ecotax, short for Ecological taxation, can refer to: (1) A fiscal policy that introduces taxes intended to promote ecologically sustainable activities via economic incentives. ... The term UK fuel protest refers to a series of protests held in the United Kingdom over the cost of petrol. ...

In 2005 New Zealand proposed a carbon tax, setting an emissions price of NZ$15 per tonne of CO₂-equivalent. The planned tax was scheduled to take effect from April 2007, and applied across most economic sectors though with an exemption for methane emissions from farming and provisions for special exemptions from carbon intensive businesses if they adopted world's-best-practice standards of emissions. After the 2005 election, the minor parties supporting the Government opposed the proposed tax, and it was abandoned in December 2005. Methane is a chemical compound with the molecular formula . ... Wikinews has news related to: Results of the 2005 New Zealand General Election The 2005 New Zealand general election took place on 17 September 2005 and determined the composition of the 48th New Zealand Parliament. ...

In 1993, President of the United States Bill Clinton proposed a BTU tax that was never adopted. His Vice President, Al Gore, had strongly backed a carbon tax in his book, Earth in the Balance, but this became a political liability after the Republicans attacked him as a "dangerous fanatic". In 2000, when Gore ran for President, one commentator labeled Gore's carbon tax proposal a "central planning solution" harking back to "the New Deal politics of his father."^[2] In April 2005, Paul Anderson, CEO and Chairman of Duke Energy, called for the introduction of a carbon tax.^[29] In January 2007, economist Charles Komanoff and attorney Dan Rosenblum launched a Carbon Tax Center^[30] to give voice to Americans who believe that taxing carbon emissions is imperative to reduce global warming. Federal courts Supreme Court Circuit Courts of Appeal District Courts Elections Presidential elections Midterm elections Political Parties Democratic Republican Third parties State & Local government Governors Legislatures (List) State Courts Local Government Other countries Atlas US Government Portal For other uses, see President of the United States (disambiguation). ... William Jefferson Bill Clinton (born William Jefferson Blythe III[1] on August 19, 1946) was the 42nd President of the United States, serving from 1993 to 2001. ... The Vice President of the United States[1] (sometimes referred to as VPOTUS,[2] Veep, or VP) is the first person in the presidential line of succession, becoming the new President of the United States upon the death, resignation, or removal of the president. ... This article is about the former Vice President of the United States. ... Earth in the Balance audio book cover Earth in the Balance (ISBN 0452269350) is a 1992 book written by Al Gore shortly before he was elected Vice President in the 1992 presidential election. ... The Republican Party is one of two major contemporary political parties in the United States; the other being the Democratic Party. ... Albert Gore Sr. ... Chief Executive Officer (CEO) is the job of having the ultimate executive responsibility or authority within an organization or corporation. ... Corporate Headquarters in Charlotte, North Carolina Duke Energy NYSE: DUK, headquartered in Charlotte, North Carolina, is an energy company with assets in the United States (primarily North and South Carolina), Canada and Latin America. ...

On 19 February 2008, the Canadian province of British Columbia announced its intention to implement a $10/tonne carbon tax beginning 1 July 2008, making BC the first North American jurisdiction to implement such a tax. The tax will rise by $5 a year until it reaches $30 in 2012. Unlike previous proposals, legislation will keep the pending carbon tax revenue neutral by reducing corporate and income taxes at an equivalent rate.^[31] [[Media:Italic text]]{| style=float:right; |- | |- | |} is the 50th day of the year in the Gregorian calendar. ... 2008 (MMVIII) is the current year, a leap year that started on Tuesday of the Common Era (or Anno Domini), in accordance with the Gregorian calendar. ... Motto: Splendor sine occasu (Latin: Splendour without diminishment) Capital Victoria Largest city Vancouver Official languages English (de facto) Government Lieutenant-Governor Steven Point Premier Gordon Campbell (BC Liberal) Federal representation in Canadian Parliament House seats 36 Senate seats 6 Confederation July 20, 1871 (6th province) Area Ranked 5th Total 944... is the 182nd day of the year (183rd in leap years) in the Gregorian calendar. ... 2008 (MMVIII) is the current year, a leap year that started on Tuesday of the Common Era (or Anno Domini), in accordance with the Gregorian calendar. ...

In November 2006 voters in Boulder, Colorado have passed U.S. first-ever municipal "carbon tax", is a tax on electricity consumption (utility bills) that goes to fund programs by the City of Boulder, Colorado to reduce greenhouse gas emissions. However, because it is a tax on electricity usage instead of on carbon, the tax also applies to carbon free sources of electricity.^[32] Boulder is a Home Rule Municipality that is the county seat and most populous city of Boulder County, Colorado, in the United States. ... Top: Increasing atmospheric CO2 levels as measured in the atmosphere and ice cores. ...

See also

Emissions trading (or cap and trade) is an administrative approach used to control pollution by providing economic incentives for achieving reductions in the emissions of pollutants. ... Ecotax, short for Ecological taxation, can refer to: A fiscal policy that introduces taxes intended to promote ecologically sustainable activities via economic incentives. ... A gasoline tax (also known as a gas tax, petrol tax, fuel tax or fuel duty) is a sales tax imposed on the sale of gasoline. ... It has been suggested that Polluter Pays be merged into this article or section. ... The tax horsepower was an early system by which taxation rates for automobiles were reckoned in some European countries, like Britain and France. ... A Tobin tax is the suggested tax on all trade of currency across borders. ...

Notes and references

The Associated Press, or AP, is an American news agency, the worlds largest such organization. ... Year 2007 (MMVII) was a common year starting on Monday of the Gregorian calendar in the 21st century. ... is the 37th day of the year in the Gregorian calendar. ... 2008 (MMVIII) is the current year, a leap year that started on Tuesday of the Common Era (or Anno Domini), in accordance with the Gregorian calendar. ... is the 105th day of the year (106th in leap years) in the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... is the 302nd day of the year (303rd in leap years) in the Gregorian calendar. ... For other uses, see BBC (disambiguation). ... Year 2007 (MMVII) was a common year starting on Monday of the Gregorian calendar in the 21st century. ... is the 107th day of the year (108th in leap years) in the Gregorian calendar. ... is the 303rd day of the year (304th in leap years) in the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... is the 303rd day of the year (304th in leap years) in the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... PDF is an abbreviation with several meanings: Portable Document Format Post-doctoral fellowship Probability density function There also is an electronic design automation company named PDF Solutions. ... The New Economics Foundation is a British think-tank, or, in their own description, a think-and-do tank. The groups goal is to promote their progressive view of welfare economics and environmentalism. ... is the 305th day of the year (306th in leap years) in the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... For other uses, see Guardian. ... is the 174th day of the year (175th in leap years) in the Gregorian calendar. ... Year 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... The Department for Business, Enterprise and Regulatory Reform (BERR) is a United Kingdom government department. ... The United States Department of Energy (DOE) is a Cabinet-level department of the United States government responsible for energy policy and nuclear safety. ... The Energy Information Administration (EIA), as part of the U.S. Department of Energy, collects and disseminates data on energy reserves, production, consumption, distribution, prices, technology, and related international, economic, and financial matters. ... 2008 (MMVIII) is the current year, a leap year that started on Tuesday of the Common Era (or Anno Domini), in accordance with the Gregorian calendar. ... is the 105th day of the year (106th in leap years) in the Gregorian calendar. ... The United States Department of Energy (DOE) is a Cabinet-level department of the United States government responsible for energy policy and nuclear safety. ... The Energy Information Administration (EIA), as part of the U.S. Department of Energy, collects and disseminates data on energy reserves, production, consumption, distribution, prices, technology, and related international, economic, and financial matters. ... 2008 (MMVIII) is the current year, a leap year that started on Tuesday of the Common Era (or Anno Domini), in accordance with the Gregorian calendar. ... is the 100th day of the year (101st in leap years) in the Gregorian calendar. ... 2008 (MMVIII) is the current year, a leap year that started on Tuesday of the Common Era (or Anno Domini), in accordance with the Gregorian calendar. ... is the 105th day of the year (106th in leap years) in the Gregorian calendar. ... 2008 (MMVIII) is the current year, a leap year that started on Tuesday of the Common Era (or Anno Domini), in accordance with the Gregorian calendar. ... is the 105th day of the year (106th in leap years) in the Gregorian calendar. ... 2008 (MMVIII) is the current year, a leap year that started on Tuesday of the Common Era (or Anno Domini), in accordance with the Gregorian calendar. ... is the 105th day of the year (106th in leap years) in the Gregorian calendar. ... PDF is an abbreviation with several meanings: Portable Document Format Post-doctoral fellowship Probability density function There also is an electronic design automation company named PDF Solutions. ... 2008 (MMVIII) is the current year, a leap year that started on Tuesday of the Common Era (or Anno Domini), in accordance with the Gregorian calendar. ... is the 105th day of the year (106th in leap years) in the Gregorian calendar. ... 2008 (MMVIII) is the current year, a leap year that started on Tuesday of the Common Era (or Anno Domini), in accordance with the Gregorian calendar. ... is the 105th day of the year (106th in leap years) in the Gregorian calendar. ... The Department for Environment, Food and Rural Affairs (Defra) is the United Kingdom government department responsible for environmental protection, food production and standards, agriculture, fisheries and rural communities. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... is the 98th day of the year (99th in leap years) in the Gregorian calendar. ... 2008 (MMVIII) is the current year, a leap year that started on Tuesday of the Common Era (or Anno Domini), in accordance with the Gregorian calendar. ... is the 105th day of the year (106th in leap years) in the Gregorian calendar. ... 2008 (MMVIII) is the current year, a leap year that started on Tuesday of the Common Era (or Anno Domini), in accordance with the Gregorian calendar. ... is the 105th day of the year (106th in leap years) in the Gregorian calendar. ...

External links

Global warming refers to the increase in the average temperature of the Earths near-surface air and oceans in recent decades and its projected continuation. ... Variations in CO2, temperature and dust from the Vostok ice core over the last 450,000 years For current global climate change, see Global warming. ... The temperature record shows the fluctuations of the temperature of the atmosphere and the oceans through various spans of time. ... Instrumental global surface temperature measurements; see also [http://www. ... Comparison of ground based (blue) and satellite based (red: UAH; green: RSS) records of temperature variations since 1979. ... The temperature record of the past 1000 years describes the reconstruction of temperature for the last 1000 years on the Northern Hemisphere. ... The website of the National Oceanic and Atmospheric Administration contains detailed data of the annual land and ocean temperature since 1880. ... This article is devoted to temperature changes in Earths environment as determined from geologic evidence on multi-million to billion (109) year time scales. ... National and international science academies and professional societies have assessed the current scientific opinion on climate change, in particular recent global warming. ... Look up anthropogenic in Wiktionary, the free dictionary. ... In common with many other forms of transport, aircraft engines emit polluting gases, contribute to global warming, and cause noise pollution. ... Carbon dioxide (chemical formula: ) is a chemical compound composed of two oxygen atoms covalently bonded to a single carbon atom. ... In IPCC reports, equilibrium climate sensitivity refers to the equilibrium change in global mean surface temperature following a doubling of the atmospheric (equivalent) CO2 concentration. ... Global dimming is the gradual reduction in the amount of global direct irradiance at the Earths surface that was observed for several decades after the start of systematic measurements in 1950s. ... Global warming potential (GWP) is a measure of how much a given mass of greenhouse gas is estimated to contribute to global warming. ... A schematic representation of the exchanges of energy between outer space, the Earths atmosphere, and the Earth surface. ... Top: Increasing atmospheric levels as measured in the atmosphere and ice cores. ... The Keeling Curve is a graph measuring the increase in the levels of carbon dioxide in the atmosphere since 1958. ... Land Use, Land-Use Change and Forestry (LULUCF) is a term often used in climate change topics. ... Tokyo, a case of Urban Heat Island. ... For other uses, see Albedo (disambiguation). ... Cloud forcing (sometimes described as cloud radiative forcing) is the difference between the radiation budget components for average cloud conditions and cloud-free conditions. ... A glaciation (a created composite term meaning Glacial Period, referring to the Period or Era of, as well as the process of High Glacial Activity), often called an ice age, is a geological phenomenon in which massive ice sheets form in the Arctic and Antarctic and advance toward the equator. ... Global cooling in general can refer to a cooling of the Earth. ... Upper: AMO index: the ten-year running mean of detrended Atlantic sea surface temperature anomaly (SSTA, Â°C) north of the equator. ... This article is about the global coupled ocean-atmosphere phenomenon. ... The Indian Ocean Dipole (IOD) is an oceanographic phenomenon effecting climate in the Indian Ocean region. ... The Pacific Decadal Oscillation (PDO) is a pattern of Pacific climate variability that shifts phases on at least inter-decadal time scale, usually about 20 to 30 years. ... Milankovitch cycles are the collective effect of changes in the Earths movements upon its climate, named after Serbian civil engineer and mathematician Milutin MilankoviÄ‡. The eccentricity, axial tilt, and precession of the Earths orbit vary in several patterns, resulting in 100,000 year ice age cycles of the... Orbital forcing, or Milankovitch theory, describes the effect on climate of slow changes in the tilt of the Earths axis and shape of the orbit. ... The generalised concept of radiative forcing in climate science is any change in the radiation (heat) entering the climate system or changes in radiatively active gases. ... 400 year history of sunspot numbers. ... Cleveland Volcano in the Aleutian Islands of Alaska photographed from the International Space Station For other uses, see Volcano (disambiguation). ... Climate models use quantitative methods to simulate the interactions of the atmosphere, oceans, land surface, and ice. ... General Circulation Models (GCMs) are a class of computer-driven models for weather forecasting and predicting climate change, where they are commonly called Global Climate Models. ... The politics of global warming looks at the current political issues relating to global warming, as well as the historical rise of global warming as a political issue. ... UNFCCC logo. ... IPCC is the science authority for the UNFCCC The Intergovernmental Panel on Climate Change (IPCC) was established in 1988 by two United Nations organizations, the World Meteorological Organization (WMO) and the United Nations Environment Programme (UNEP), to evaluate the risk of climate change brought on by humans, based mainly on... The global warming controversy is a dispute regarding the nature and consequences of global warming. ... This article lists scientists and former scientists who have stated disagreement with one or more of the principal conclusions of the mainstream scientific assessment of global warming. ... This page is non-encyclopedic and represents the editorial views of notably biased publications, such as Newsweek and Mother Jones. ... Graphical description of risks and impacts from global warming from the Third Assessment Report of the Intergovernmental Panel on Climate Change. ... This article or section does not cite any references or sources. ... Fields outside Benambra, Victoria, Australia suffering from drought conditions A drought is an extended period of months or years when a region notes a deficiency in its water supply. ... As recent estimates of the rate of global warming have increased, so have the financial estimates of the damage costs. ... A view down the Whitechuck Glacier in North Cascades National Park in 1973 The same view as seen in 2006, where this branch of glacier retreated 1. ... The extinction risk of climate change -- that is, the expected number of species expected to become extinct due to the effects of global warming -- has been estimated in a 2004 Nature study to be between 15 and 37 percent of known species by 2050. ... Global monthly average total ozone amount Ozone depletion describes two distinct, but related observations: a slow, steady decline of about 4 percent per decade in the total amount of ozone in Earths stratosphere since the late 1970s; and a much larger, but seasonal, decrease in stratospheric ozone over Earth... Change in sea surface pH caused by anthropogenic CO2 between the 1700s and the 1990s Ocean acidification is the name given to the ongoing decrease in the pH of the Earths oceans, caused by their uptake of anthropogenic carbon dioxide from the atmosphere. ... Sea level measurements from 23 long tide gauge records in geologically stable environments show a rise of around 20 centimeters per century (2 mm/year). ... Shutdown or slowdown of the thermohaline circulation is a possible effect of global warming. ... Global carbon dioxide emissions 1800â€“2000 Global average surface temperature 1850 to 2006 Mitigation of global warming involves taking actions aimed at reducing the extent of global warming. ... The Kyoto Protocol is a protocol to the international Framework Convention on Climate Change with the objective of reducing greenhouse gases that cause climate change. ... CDM directs here. ... Joint implementation (JI) is an arrangement under the Kyoto Protocol allowing industrialised countries with a greenhouse gas reduction commitment (so-called Annex 1 countries) to invest in emission reducing projects in another industrialised country as an alternative to emission reductions in their own countries. ... The European Climate Change Programme (ECCP) was launched in June 2000 by the European Unions European Commission. ... The United Kingdoms Climate Change Programme was launched in November 2000 by the British government in response to its commitment agreed at the 1992 United Nations Conference on Environment and Development (UNCED). ... Crude oil prices, 1994-2007 (not adjusted for inflation) In 2005 the government of Sweden announced their intention to make Sweden the first country to break its dependence on petroleum, natural gas and other â€˜fossil raw materialsâ€™ by 2020. ... Emissions trading (or cap and trade) is an administrative approach used to control pollution by providing economic incentives for achieving reductions in the emissions of pollutants. ... Emissions trading schemes (also known as â€˜cap and tradeâ€™ schemes) are one of the policy instruments available for reducing carbon dioxide (CO2) and other greenhouse gases. ... Until recently, most carbon offsets were commonly done by planting trees. ... This article deals with carbon credits for international trading. ... A carbon dioxide (CO2) sink is a carbon dioxide reservoir that is increasing in size, and is the opposite of a carbon dioxide source. The main natural sinks are (1) the oceans and (2) plants and other organisms that use photosynthesis to remove carbon from the atmosphere by incorporating it... There are very few or no other articles that link to this one. ... For the physical concepts, see conservation of energy and energy efficiency. ... Efficient energy use, sometimes simply called energy efficiency, is using less energy to provide the same level of energy service. ... Renewable energy effectively utilizes natural resources such as sunlight, wind, tides and geothermal heat, which are naturally replenished. ... Renewable energy commercialization involves three generations of technologies dating back more than 100 years. ... // Renewable energy development covers the advancement, capacity growth, and use of renewable energy sources by humans. ... The soft energy path is an energy use and development strategy delineated and promoted by some energy experts and activists, such as Amory Lovins and Tom Bender; in Canada, David Suzuki has been a very prominent (if less specialized) proponent. ... The G8 Climate Change Roundtable was formed in January 2005 at the World Economic Forum in Davos. ... The issue of human-caused, or anthropogenic, climate change (global warming) is becoming a central focus of the Green movement. ... Adaptation to global warming covers all actions aimed at reducing the negative effects of global warming. ... This article is about structures for water impoundment. ... The Seven Rila Lakes in Rila, Bulgaria are typical representatives of lakes with glacial origin A glacial lake is a lake with origins in a melted glacier. ... Irrigation is the artificial application of water to the soil usually for assisting in growing crops. ... A rainwater tank is a water tank which is used to collect and store rainwater runoff, typically from rooftops. ... Sustainable development is a pattern of resource use that aims to meet human needs while preserving the environment so that these needs can be met not only in the present, but in the indefinite future. ... A tornado in central Oklahoma. ... Global carbon dioxide emissions 1800â€“2000 Global average surface temperature 1850 to 2006 Avoiding Dangerous Climate Change: A Scientific Symposium on Stabilisation of Greenhouse Gases was a 2005 international conference that redefined the link between atmospheric greenhouse gas concentration, and the 2Â°C (3. ... LADSS or Land Allocation Decision Support System, is an agricultural land use planning tool being developed at The Macaulay Institute. ... This article serves as a glossary of the most common terms and how they are used. ...

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