The issue on carbon taxing gained popularity in the 1990s when people were first starting to grow aware of climate change and various environmental issues. Since China is one of the leading producers of CO2 emissions, it has been one of the main targets of this proposed taxing scheme. Of course there are a lot of factors involved in deciding whether or not this taxing scheme must be enforced. China is worried that if this scheme is made official, it would affect their economy. Richard Cooper wrote a detailed report on this matter. In is paper he mentions that,
“On the basis of this estimate a tax of roughly 100 percent on coal (assuming a coal price of $32 a ton with 75 percent carbon content), and correspondingly less on oil and gas per available btu (oil emits about three-quarters, and gas half that of an efficient coal power plant per unit of electricity), would lead to roughly a 20 percent reduction in China’s carbon emissions.”
The entire paper is available online at: http://www.cleanair-coolplanet.org/cpc/documents/2004_China_carbon_tax.pdf
At the 2009 United Nations meeting in New York, a special climate change summit was held in an attempt to reach a deal on cutting greenhouse gases before the Copenhagen conference in December. China agreed to cut emissions by a “notable margin” by 2020 from 2005 levels, but didn’t provide exact estimates. In order to do this, China is relying on energy conservation, energy efficiency, nuclear energy, and other forms of clean energy.
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