Carbon Tax Evaluation

Topics: Fossil fuel, Carbon dioxide, Wind power Pages: 11 (3176 words) Published: January 22, 2014


A REPORT ON CARBON TAX

TABLE OF CONTENTS

EXECUTIVE SUMMARY………………………………..…. 5-5

INTRODUCTION……………………………………….…….6-6

BACKGROUND INFORMATION…………………………...7-7

ISSUES AND PROBLEMS……………………………….…..8-8

DISSCUSSION (CRITICAL ANALYZIS)…………………...9-11

RECCOMENDATIONS……………………………………..11-12

IMPLIMENTATIONS………………………………………..12-13

REFERENCES……………………………………………......14-14

EXECUTIVE SUMMARY

People have started to think about the ever growing Environmental issues regarding the industrial growth. Due to the negligence of the governments and the unawareness of the common public it has developed into a global crisis. Now with the introduction of the Carbon tax law and its strict implementation most of the industries around the world have to find suitable adjustments to make sure they find adequate energy sources and at the same time survive in the competitive environment.

This report explains what carbon tax is all about, why it is enforced and what are the main changes caused due to it. I have also discussed the problems and issues related to Carbon tax and conducted an analysis about the positive and negative impacts of the carbon tax on businesses both small and large as well as the common people. I have also included details about certain industries in which carbon tax is going to create a renovated approach in the near future. Possible substitutes for the energy crisis situation is also been mentioned, in form of renewable energy sources such as sunlight, windmills, hydroelectric power plants etc.

I have also done some research into the topic and have provided some hopeful recommendations and suggestions for the implementation of my recommendations. By completing the report I understood that it is a very relevant topic in the modern world scenario and even though a sudden change is impossible a gradual change has been initiated and the reaction from the businesses and public is imminent. Hopefully businesses and the public will understand the importance of a healthy living environment for the generations to come.

INTRODUCTION

What is Carbon tax?

Carbon tax is the tax imposed on the carbon content of fuel. We can say that it is an environmental tax imposed by the government to reduce or discourage the production of greenhouse emissions and also even the vehicles on the roads. It is also a step towards promoting green energy or natural gas for substituting fossil fuels. Carbon content is there in every fossil fuel. So there is always a considerable emission of Carbon dioxide released into the atmosphere when the fuel is burned. In order for the betterment of the environment the governments have decided to impose Carbon tax.

Why a Carbon tax?

When we hear about the term Carbon tax the initial question is why does it need to be there? The answer is that by imposing a Carbon tax the government is trying to reduce the emission of carbon dioxide into the atmosphere for conserving the environment. By imposing this tax people and companies have started to think about the environment and have started to find more cost efficient methods and environment friendly substitutes instead of carbon emitting fossil fuels.

What changes have been brought about?

The imposing of Carbon tax has almost made an immediate impact. Many Countries around the world do support the idea of imposing a carbon tax and the positive affects it can bring on the environment. Amongst all this certain industries especially the mining industries have strongly rejected the idea. In contrast the amount of carbon tax is set by the political or legal structures. In the current scenario those producing greenhouse gases can produce without any limit, but they will be charged with the amount they are emitting. By the tax imposing people are thinking about more renewable resources such as wind or solar energy instead of paying high taxes....

References: 1. Fisher, B.S. (1996). An Economic Assessment of Policy Instruments for Combating Climate Change. Cambridge University Press, Cambridge, UK, and New York, N.Y., U.S.A.
2. Hoeller, P. and Wallin (1991). Energy, Prices, Taxes and Carbon Dioxide Emissions. OECD website.
3. www.carbontax.net.au, Australian carbon tax info. Website.
4. http://www.renewableenergyworld.com, World energy research website.
5. Helm, D. (2008). Climate – change policy: why has so little been achieved? Oxford Review of Economic Policy.
6. www.climatechange.gov.au, official Australian climate change website.
7. http://www.abc.net.au, Australian news website.
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