Oil-Rich Norway Doubles Its Carbon Tax on Oil Companies
To reiterate: Norway is doubling its carbon tax on oil producers and then giving the proceeds to projects that help the climate in developing countries.
Norway is to double carbon tax on its North Sea oil industry and set up a £1bn fund to help combat the damaging impacts of climate change in the developing world.
In one of the most radical climate programmes yet by an oil-producing nation, the Norwegian government has proposed increasing its carbon tax on offshore oil companies by £21 to £45 (Nkr410) per tonne of CO2 and a £5.50 (Nkr50) per tonne CO2 tax on its fishing industry.
Subtext: Norway kicks ass.
Obviously, it's easier for Norway to levy such a fee, since much its oil industry is, you know, state-owned (the Norwegian government owns a 67% stake in Statoil, the biggest company in the region). As such, Norwegian oil companies, while far from perfect, are not Ecuador-decimating, climate change denial-promoting, private corporations with lobbying fleets the size of the navy. There will be no multimillion dollar campaign to convince the public that climate change is a hoax, and that small fees on their product will bankrupt the economy.
Norway's government is going above and beyond to demonstrate its willingness to be a good global citizen, to do its part to slow the rise climate change. The U.S. isn't doing shit.