Australia Becomes First Country to Repeal Carbon Levies
Australia made history by being the first nation to abolish laws requiring companies to pay for carbon dioxide emissions. The country’s senate posted a 39 to 32 vote to repeal carbon tax – a law that had been in place less than three years. Elected in September, Prime Minister Tony Abbott campaigned for the removal of the said tax in order to reduce power prices and spur economic growth. Environmentalists see the repeal as an appalling move because they claim it will cause an irresponsible 30 percent emission increase over the next 15 years.
India Looking at Subsidy for EV’s and Hybrids to Save of Fuel Costs
Heavy auto fuel importation has been a source of political and economic contention in India for years now. According to a leading national spreadsheet, the government is considering a financial incentive scheme worth $2.5 billion for hybrid and electric cars that would help the country save about $11 billion of fuel costs. The Ministry of Finance is pondering on a proposal that pure electric cars be offered a subsidy of 35% and plug-in cars with a single-charge-range of at least 15 km be offered 25 %. Mild Hybrids and strong hybrids would get subsidies of 15% and 25% respectively.
Ban on U.S. Oil Exports Seen Becoming Obsolete
The decades -old ban on most crude exports from the U.S., now the globe’s biggest producer, will be weakened as government rulings allow exceptions, according to analysts. The Commerce Department’s approval for Enterprise Products Partners LP and Pioneer Natural Resources Co. to export light oil known as condensate indicate a series of actions that will make the restriction obsolete. The ban, passed in 1975, was a response to the Arab oil embargo that quadrupled prices and caused gas shortages in the U.S. at a time when the nation’s crude production was dwindling.
US and China Fosters Carbon Capture Technology
On July 8, delegations from the U.S. and China signed eight partnership agreements to curb greenhouse gasses. Four of these agreements were focused on carbon capture technology. Research institutions and businesses will be collaborating to develop demonstration projects as well as technology sharing. The agreements are the latest step in the relationship between the two nations on Carbon Capture and Storage (CCS) research and development that dates back to 2005. China is number 2 in the world in terms of active CCS projects. China has 12 large scale projects while the US has 19.