Oil-Rich Norway Doubles Its Carbon Tax on Oil Companies

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There goes Scandinavia again, making the rest of the world look bad. Here's the Guardian (via Grist):

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.

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.

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.

Tags: Norway | Oil

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