EU might propose energy taxes

The European Commission is working toward reforming the EU’s tax on energy products so that it reflects the amount of greenhouse gases they emit. The commission, which is the EU’s executive body, might propose to the 27 E.U. countries that a minimum tax on energy products such as gasoline and diesel fuel will have to be in part based on how much CO2 these products emit, rather than only on their energy content, a commission spokeswoman for taxation said. Talk of a specific tax on carbon emissions is coming from a range of countries including France, China and Japan as one way to limit CO2 emissions in advance of an international summit to be held in Copenhagen this December. The tax will apply to carbon emissions from burning fossil fuels such as coal, natural gas and oil products, and will be imposed on domestic, as well as foreign, enterprises. (September 25, 2009)