Adventure

Norway Doubles Carbon Tax on Oil

Will support a $1.75 billion renewable energy fund

Norway will nearly double its carbon tax on oil companies, a new budget plan revealed on Monday. They plan to raise the carbon tax on the offshore petroleum industry by about $35 per ton in 2013. That would bring the tax up to around $72 per carbon-dioxide ton. The tax will support a new $1.75 billion fund to promote renewable energy and cuts in greenhouse gasses. The fund will also be used to assist developing nations to protect tropical rainforests. Norway has set a goal of reducing greenhouse emissions to 30 percent below its 1990 levels by 2020.

Via Reuters

Our mission to inspire readers to get outside has never been more critical. In recent years, Outside Online has reported on groundbreaking research linking time in nature to improved mental and physical health, and we’ve kept you informed about the unprecedented threats to America’s public lands. Our rigorous coverage helps spark important debates about wellness and travel and adventure, and it provides readers an accessible gateway to new outdoor passions. Time outside is essential—and we can help you make the most of it. Making a financial contribution to Outside Online only takes a few minutes and will ensure we can continue supplying the trailblazing, informative journalism that readers like you depend on. We hope you’ll support us. Thank you.
Contribute to Outside
Filed To: News
More Adventure