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Norway Set To Double Carbon Tax On The Oil Industry To Fund Climate Initiatives

12 Oct

Norway is to double carbon tax on its North Sea oil industry and set up a £1bn fund to help combat the damaging impacts of climate change in the developing world. [Guardian]

In one of the most radical climate programmes yet by an oil-producing nation, the Norwegian government has proposed increasing its carbon tax on offshore oil companies by £21 to £45 (Nkr410) per tonne of CO2 and a £5.50 (Nkr50) per tonne CO2 tax on its fishing industry.

Norway will also plough an extra £1bn (Nkr10bn) into its funds for climate change mitigation, renewable energy, food security in developing countries and conversion to low-carbon energy sources, Environmental Finance reported.

Other impacting news in carbon, climate and environment this week

The solar panel manufacturing industry in the United States and Europe has begun a volley of trade cases against imports, following the same track as the steel industry before it — and for many of the same reasons. [New York Times]

A big new report from the Global CCS Institute takes stock of carbon capture and sequestration (CCS) projects around the world as of 2012. And progress has been… rather slow. [Wonk Blog]

Babies who are exposed to ambient air traffic pollution are likely to have poorer lung function up to the age of eight, especially those who are sensitized to common allergens, say researchers. [Medical News Today]

Ongoing resistance and confrontations over the construction of the Keystone XL pipeline have reportedly sparked the detainment of two journalists in Texas this week. [Huffington Post]

Carmakers and the federal government are pouring resources into “lightweighting” auto platforms to meet the Corporate Average Fuel Economy, or CAFE, standards. [New York Times]

An environmental group is calling on President Obama’s campaign to take down a TV ad criticizing Republican challenger Mitt Romney for declaring years ago that a Massachusetts coal-fired power plant “kills people.” [Washington Post]

Royal Dutch Shell said late Thursday it has applied for a permit from the U.S. Department of Commerce to export crude oil in a sign of how a boom in U.S. oil production from shale rock is reshaping the country’s role in the global energy marketplace. [Wall Street Journal]

The recent rash of extreme weather and climate events — droughts, heat waves, extreme precipitation — has provided a greater impetus for taking action to reduce planet warming greenhouse gas emissions. But a lack of political will and the complexities of the climate system pose enormous obstacles, according to international development and climate scientists who spoke at a Columbia University forum on Thursday. [Climate Central]

This data courtesy of the excellent blog at http://thinkprogress.org/

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