Italian energy sector faces possible huge carbon taxes

Italy's energy sector is the latest in Europe to face a possible massive "carbon tax" designed to cope with postulated catastrophic global warming. Late last year, the Italian ministers of industry and the environment announced at a summit on energy a 5-year, 100 trillion lira ($57 billion) program to implement a carbon tax and revamp the energy sector. This is in accordance with the Kyoto climate change agreement, under which Italy is to cut emissions of greenhouse gases by 6.5% from 1990 levels. That underpins projections of a dramatic switch in power generation fuel in Italy to natural gas from oil. According to Chicco Testa, general manager of state power utility ENE...

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