Environmental Taxes in the Petroleum Industry

Paper Summary:

This paper looks at the history and structure of environmental taxes. It addresses what they are used for and how it impacts the petroleum industry. The paper looks at worldwide taxes, with a more narrow examination of Canada and Brazil regarding the impact their taxes have on their petroleum industries. The research concludes that environmental taxes worldwide are having a positive impact on the industry as they encourage the reduction of pollution and waste.

From the Paper:

"The effects that environmental taxation has on the petroleum industry cannot be ignored. The concern with the environment is not new. For several decades environmentalists have been warning world inhabitants that they were destroying future resources with the refusal to conserve and protect current resources. One of the most controversial resources on earth is petroleum. Petroleum has many uses that the world has come to take for granted. Heating, transportation, and other uses have become commonplace in just about every industrialized nation on earth. Millions of people use petroleum in their every day life. They use it as fuel in their vehicles, commercial transportation companies use it as well. In addition to transportation uses there are heating issues and industrial uses that are also heavily dependent on petroleum. As the industry ingratiates itself even further into industrialized society environmentalists continue to study the future. The pressure environmentalists have brought on various governments has been effective. Environmental taxes have been imposed around the world to try and offset the cost of the damage being done to the environment and the future of the world's resources by the petroleum industry."

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