‘Japan official: ‘Green tax’ needed on fossil fuels’

USA TODAY – 02/12/09

Japan’s environment minister, Sakihito Ozawa, has emphasised that Japan needs a green tax on fossil fuels in order to provide financial incentives to counter global warming and internalise carbon emissions as a cost in the economy. It is thought the tax, which would apply to all fossil fuels, could bring in $23.3 billion annually. The tax on coal would rise to 3.4 yen per kg from 0.7 yen, while the tax on electricity would increase to 1.04 yen per kilowatt hour from the current 0.52 yen. The tax on kerosene would more than double to 4.82 yen per litre, but the rate on gasoline would drop to 50.84 yen per litre from 55.85 yen. Read the article…