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Article: Study weighs impact of carbon tax. ('The Carbon Tax, The Environment, and Economic Growth' by the American Council for Capital Formation Center for Policy Research)
- Article from:
- The Oil Daily
- Article date:
- October 6, 1992
- Author:
CopyrightCOPYRIGHT 1992 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WASHINGTON -- Consumer prices for gasoline, heating oil, natural gas and electricity will "increase substantially" if a carbon tax is ever imposed, a new study says.
It projects that a carbon tax of $100/ton, which would maintain carbon dioxide emissions at current levels, would raise the cost of energy to the typical household by 36%.
At the wellhead, a $100-per-ton carbon tax would result in oil being taxed $13 a barrel, or 65% of the producer price; and natural gas being taxed $1.60 per Mcf, or 90% of producer price, according to the study.
Carbon taxes are one of a number of measures being proposed in the United States to curtail carbon ...