Article Abstract:
The United Kingdom government has a legal obligation to reduce greenhouse gas emissions, and is also seeking to protect the coal industry by slowing a move to gas-fired power plants. These two goals are incompatible, and the government will also need to reduce car traffic and push up energy prices to cut emissions. Emissions trading and an energy tax are two proposals for cutting emissions, and the government may use both methods. There are political obstacles to increasing taxes, and the government may be reluctant to overcome these obstacles.
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Article Abstract:
Companies that initially opposed plans to curb greenhouse gas emissions have come to accept the idea, and the notion of trading in greenhouse gas licenses has also become more popular. DuPont and BP Amoco are among companies that have come to accept the need to emission controls. BP Amoco has also launched a scheme for trading emissions between its divisions, to help the company achieve targets. Commodity and energy trading exchanges are also keen on the idea of emission trading.
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Article Abstract:
Carbon dioxide emissions are seen as a key factor in global warming, and companies do not face penalties for their emissions. A calculation of how much the emissions cost is being attempted by the World Bank's Prototype Carbon Fund. This could be used in schemes to control emissions, and there could be restrictions within five years from 2000. A number of companies are already seeking to tackle the problem, in preparation for expected restrictions.
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