Carbon Dioxide Emissions
9/13/2009 10:48:24 PM EST
French President Nicolas Sarkozy has announced plans for a new carbon tax
Partner, Ropers Majeski Kohn & Bentley
Prior posts have noted the pro’s and con’s of emissions trading programs and carbon taxes.
French President Nicolas Sarkozy has announced plans for a new carbon tax aimed at combating global warming. The tax will be introduced next year and will cover the use of oil, gas and coal. The new tax will be 17 euros (£15) per ton of emitted CO2, will be phased in gradually, and will apply to households as well as enterprises, but not to the heavy industries and power firms included in the EU's emissions trading scheme.
Most electricity in France (excluded from the new carbon tax) is nuclear generated. In line with several carbon tax programs proposed here in the U.S., as noted in prior posts, President Sarkozy said revenues from the new tax would be returned to taxpayers through cuts in other taxes and ‘green checks".
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