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  • rlp2451 rlp2451 Mar 23, 2013 8:06 PM Flag

    OT: China To Implement Carbon Tax To Tackle Pollution

    China should enact a carbon tax and raise fuel and electricity prices if it hopes to tackle the pervasive pollution that is a byproduct of breakneck growth, the Organization for Economic Cooperation and Development said Friday.

    Replacing policies that push the cost of gasoline, electricity and coal below market prices and taxing pollution instead would raise money that could be spent on targeted poverty reduction, said the OECD, a grouping of 34 mostly high-income countries.

    "You have to get rid of the things that are onerous on the environment, onerous on the budget, and absolutely regressive from an income distribution point of view," said Angel Gurría, secretary-general of the OECD. "Who uses more gasoline? The people who have cars. When you have a blanket subsidy you benefit the wrong people."

    One of many options being considered is to increase the amount of ethanol blended into gasoline, which reduces CO2 emissions, but legislation would be needed to change current policies. According to the USDA, China used 4.6 million tons of corn and 1 million tons of wheat to produce ethanol in 2012. The majority of Chinese corn imports come from the US.

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