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Commodities Briefing - Categorized | Environmental Trading, Oil more

Oil nations asked to consider carbon tax on exports

Posted on 22 November 2012

Proposal could break deadlock at climate talks over raising finances for poorer countries to adapt to global warming. The world’s largest oil-exporting countries have been asked to consider imposing a small carbon tax on oil as a way to break the deadlock over finance for poorer countries in the UN climate talks.
The Ecuador-led initiative, submitted to the Organisation of Petroleum Exporting Countries (Opec), could see a 3-5% tax levied on every barrel of oil exported to rich countries. This could potentially raise $40-60bn a year for the green climate fund, which is expected to be the principle route of funding for developing countries to adapt to climate change………………………………………..Full Article: Source


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