ENERGY
From Times Staff and Wire Reports
EC Commission Favors $10 Tax on Oil: The European Community’s executive body proposed a stiff energy tax that would push up crude oil prices by nearly 50% to cut carbon dioxide emissions. The tax would come to $10 a barrel. In London, Brent oil is trading at about $20.70 a barrel. The EC commission endorsement is not a formal proposal but a recommendation that will form the basis for debate among EC governments on how best to meet a commitment to reduce emissions of carbon dioxide to 1990 levels by 2000.
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